Bank of America Corp DE Sells 157,829 Shares of Radiant Logistics, Inc. $RLGT

Bank of America Corp DE decreased its position in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Free Report) by 39.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,121 shares of the company's stock after selling 157,829 shares during the period. Bank of America Corp DE owned approximately 0.52% of Radiant Logistics worth $1,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Oxford Asset Management LLP acquired a new stake in Radiant Logistics in the 4th quarter worth about $67,000. BNP Paribas Financial Markets increased its holdings in shares of Radiant Logistics by 45.4% during the third quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company's stock worth $76,000 after purchasing an additional 4,001 shares during the period. Ritholtz Wealth Management bought a new position in shares of Radiant Logistics during the first quarter worth approximately $77,000. Williams & Novak LLC acquired a new stake in shares of Radiant Logistics in the fourth quarter valued at approximately $78,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Radiant Logistics in the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Radiant Logistics Stock Performance

Shares of RLGT stock opened at $8.41 on Friday. The stock has a market capitalization of $393.84 million, a PE ratio of 24.74 and a beta of 0.82. The business's 50 day simple moving average is $8.85 and its 200 day simple moving average is $8.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59. Radiant Logistics, Inc. has a one year low of $5.78 and a one year high of $9.68.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Radiant Logistics 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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