2,872,421 Shares in Radiant Logistics, Inc. $RLGT Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 2.87 million Radiant Logistics shares in the second quarter, worth approximately $27.2 million, giving it a 6.13% stake. Institutional investors collectively own 53.59% of the company.
• Radiant’s CFO sold 11,868 shares for roughly $109,779, reducing his direct holdings by 11.97%; corporate insiders still own 24.30% of the stock.
• Analysts maintain a generally positive outlook, with two Buy and two Hold ratings, an overall “Moderate Buy” consensus, and a $12.00 target price versus the reported share price of $8.18.

BlackRock Inc. acquired a new stake in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,872,421 shares of the company's stock, valued at approximately $27,173,000. BlackRock Inc. owned 6.13% of Radiant Logistics as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rothschild Wealth LLC purchased a new stake in Radiant Logistics in the fourth quarter worth $1,808,000. North Star Investment Management Corp. purchased a new stake in shares of Radiant Logistics during the first quarter valued at $1,657,000. Russell Investments Group Ltd. boosted its stake in shares of Radiant Logistics by 54.5% during the third quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company's stock valued at $3,363,000 after purchasing an additional 200,994 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Radiant Logistics by 12.4% in the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company's stock worth $7,946,000 after purchasing an additional 148,381 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Radiant Logistics in the first quarter worth about $943,000. Institutional investors own 53.59% of the company's stock.

Insider Activity

In other news, CFO Todd Macomber sold 11,868 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $9.25, for a total value of $109,779.00. Following the completion of the transaction, the chief financial officer directly owned 87,249 shares of the company's stock, valued at approximately $807,053.25. The trade was a 11.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 24.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RLGT. Citigroup initiated coverage on shares of Radiant Logistics in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Citizens Jmp assumed coverage on shares of Radiant Logistics in a research note on Wednesday, July 15th. They issued a "market perform" rating on the stock. Finally, Lake Street Capital raised their target price on shares of Radiant Logistics from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Radiant Logistics Price Performance

NYSEAMERICAN RLGT opened at $8.18 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. The firm's 50 day moving average price is $8.86 and its 200-day moving average price is $8.26. Radiant Logistics, Inc. has a 52-week low of $5.78 and a 52-week high of $9.68. The company has a market cap of $383.07 million, a PE ratio of 24.06 and a beta of 0.82.

Radiant Logistics Company Profile

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.

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