Zacks Investment Research downgraded shares of Radiant Logistics Inc (NASDAQ:RLGT) from a buy rating to a hold rating in a research report sent to investors on Saturday, July 22nd.
According to Zacks, “Radiant Logistics is executing a strategy to build a global transportation and supply chain management company through organic growth and the strategic acquisition of regional best-of-breed non- asset based transportation and logistics providers to offer its customers domestic and international freight forwarding and an expanding array of value added supply chain management services, including asset recovery and reverse logistics, order fulfillment, inventory management and warehousing. “
Shares of Radiant Logistics (RLGT) traded down 0.4283% during mid-day trading on Friday, hitting $4.7197. The stock had a trading volume of 33,208 shares. Radiant Logistics has a 12 month low of $2.45 and a 12 month high of $6.65. The stock’s 50-day moving average is $5.10 and its 200 day moving average is $5.33. The firm has a market cap of $229.27 million and a PE ratio of 71.5106.
Several hedge funds have recently bought and sold shares of RLGT. The Manufacturers Life Insurance Company boosted its stake in Radiant Logistics by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock valued at $172,000 after buying an additional 489 shares in the last quarter. Russell Investments Group Ltd. raised its position in Radiant Logistics by 2.6% in the second quarter. Russell Investments Group Ltd. now owns 122,292 shares of the company’s stock worth $659,000 after buying an additional 3,105 shares in the last quarter. Voya Investment Management LLC raised its position in Radiant Logistics by 15.3% in the second quarter. Voya Investment Management LLC now owns 27,418 shares of the company’s stock worth $148,000 after buying an additional 3,640 shares in the last quarter. Rhumbline Advisers raised its position in Radiant Logistics by 18.8% in the second quarter. Rhumbline Advisers now owns 38,377 shares of the company’s stock worth $206,000 after buying an additional 6,080 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Radiant Logistics by 8.2% in the second quarter. Goldman Sachs Group Inc. now owns 88,298 shares of the company’s stock worth $475,000 after buying an additional 6,699 shares in the last quarter.
Radiant Logistics Company Profile
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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