Radiant Logistics (NYSEAMERICAN:RLGT) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a strong-buy rating to a buy rating in a research note released on Thursday.

Radiant Logistics Stock Performance

Radiant Logistics stock opened at $5.77 on Thursday. Radiant Logistics has a fifty-two week low of $4.83 and a fifty-two week high of $7.94. The stock’s 50 day simple moving average is $6.58 and its two-hundred day simple moving average is $6.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $271.25 million, a price-to-earnings ratio of 20.61 and a beta of 0.87.

Insiders Place Their Bets

In other news, CFO Todd Macomber sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.58, for a total value of $227,400.00. Following the sale, the chief financial officer now directly owns 181,704 shares of the company’s stock, valued at $1,377,316.32. The trade was a 14.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 24.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RLGT. Two Sigma Investments LP lifted its stake in shares of Radiant Logistics by 78.6% in the fourth quarter. Two Sigma Investments LP now owns 51,919 shares of the company’s stock worth $348,000 after buying an additional 22,856 shares in the last quarter. ProShare Advisors LLC purchased a new position in Radiant Logistics in the 4th quarter worth approximately $67,000. McGowan Group Asset Management Inc. bought a new position in Radiant Logistics in the 4th quarter valued at approximately $670,000. Deutsche Bank AG boosted its stake in Radiant Logistics by 47.4% during the 4th quarter. Deutsche Bank AG now owns 43,310 shares of the company’s stock valued at $290,000 after purchasing an additional 13,923 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Radiant Logistics in the 4th quarter worth $67,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Radiant Logistics Company Profile

Radiant Logistics, Inc, a third-party logistics company, provides technology-enabled global transportation and value-added logistics solutions primarily in the United States and Canada. The company offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.