Shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) shot up 5.7% during trading on Monday . The stock traded as high as $7.09 and last traded at $7.00. 1,670,754 shares traded hands during mid-day trading, an increase of 327% from the average session volume of 391,220 shares. The stock had previously closed at $6.62.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Radiant Logistics from a “buy” rating to a “hold” rating in a research report on Wednesday. Seaport Global Securities restated a “buy” rating on shares of Radiant Logistics in a research report on Monday, February 4th. Finally, TheStreet cut shares of Radiant Logistics from a “b-” rating to a “c+” rating in a research report on Wednesday, December 19th.
Radiant Logistics (NYSEAMERICAN:RLGT) last released its earnings results on Monday, February 11th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $260.94 million during the quarter, compared to analysts’ expectations of $232.02 million.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Radiant Logistics by 5.6% during the fourth quarter. BlackRock Inc. now owns 2,513,781 shares of the company’s stock valued at $10,684,000 after buying an additional 133,618 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Radiant Logistics by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,062,334 shares of the company’s stock worth $8,765,000 after purchasing an additional 17,153 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Radiant Logistics by 4.6% in the third quarter. Vanguard Group Inc. now owns 1,614,859 shares of the company’s stock worth $9,544,000 after purchasing an additional 71,357 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Radiant Logistics by 4.6% in the third quarter. Vanguard Group Inc now owns 1,614,859 shares of the company’s stock worth $9,544,000 after purchasing an additional 71,357 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Radiant Logistics by 3.1% in the fourth quarter. Northern Trust Corp now owns 406,861 shares of the company’s stock worth $1,729,000 after purchasing an additional 12,178 shares in the last quarter. 39.47% of the stock is currently owned by institutional investors and hedge funds.
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Radiant Logistics Company Profile (NYSEAMERICAN:RLGT)
Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.
Further Reading: Strangles
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