Jacobs Levy Equity Management Inc. Purchases 42,665 Shares of Radiant Logistics, Inc. $RLGT

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Radiant Logistics by 137.3% in the first quarter, owning 73,737 shares valued at approximately $453,000.
• The company's CFO, Todd Macomber, sold 25,000 shares for $153,750, which decreased his ownership by 13.76%, leaving him with about $963,729 in shares.
• As of the latest data, institutional investors own 53.59% of Radiant Logistics, while the stock is currently priced at $6.52, reflecting a 0.5% decrease.

Jacobs Levy Equity Management Inc. raised its holdings in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Free Report) by 137.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,737 shares of the company's stock after buying an additional 42,665 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.16% of Radiant Logistics worth $453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in Radiant Logistics in the first quarter valued at approximately $56,000. ProShare Advisors LLC bought a new stake in Radiant Logistics in the fourth quarter valued at approximately $67,000. EP Wealth Advisors LLC bought a new position in shares of Radiant Logistics during the fourth quarter worth approximately $67,000. Jump Financial LLC bought a new position in shares of Radiant Logistics during the first quarter worth approximately $69,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Radiant Logistics by 19.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,523 shares of the company's stock worth $91,000 after purchasing an additional 2,201 shares during the period. Institutional investors own 53.59% of the company's stock.

Analyst Ratings Changes

Separately, Lake Street Capital lowered their target price on Radiant Logistics from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $8.00.

Radiant Logistics Stock Down 10.6%

Shares of Radiant Logistics stock traded down $0.73 on Tuesday, hitting $6.15. The company had a trading volume of 775,390 shares, compared to its average volume of 158,085. The stock has a market capitalization of $289.91 million, a price-to-earnings ratio of 17.57 and a beta of 0.80. Radiant Logistics, Inc. has a 1 year low of $5.44 and a 1 year high of $7.94. The stock has a 50 day moving average of $6.19 and a 200-day moving average of $6.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.49 and a current ratio of 1.49.

Insider Activity at Radiant Logistics

In other news, CFO Todd Macomber sold 25,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $6.15, for a total value of $153,750.00. Following the completion of the sale, the chief financial officer directly owned 156,704 shares of the company's stock, valued at $963,729.60. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.60% of the stock is currently owned by company insiders.

About Radiant Logistics

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.