Sei Investments Co. Takes $943,000 Position in Radiant Logistics, Inc. $RLGT

Key Points

• Sei Investments acquired 133,692 Radiant Logistics shares during the first quarter, valued at approximately $943,000 and representing about 0.29% of the company. Institutional investors collectively own 53.59% of RLGT.
• Radiant Logistics’ CFO sold 11,868 shares for approximately $109,779, reducing his position by 11.97%; company insiders still own 24.30% of the stock.
• Analysts have a “Moderate Buy” consensus and an average price target of $12.00, compared with RLGT’s recent price of $8.55. The company beat quarterly EPS estimates, reporting $0.11 versus the expected $0.06, although revenue came in below forecasts.

Sei Investments Co. acquired a new position in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,692 shares of the company's stock, valued at approximately $943,000. Sei Investments Co. owned about 0.29% of Radiant Logistics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Oxford Asset Management LLP acquired a new stake in Radiant Logistics in the 4th quarter valued at approximately $67,000. BNP Paribas Financial Markets lifted its stake in 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 in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Radiant Logistics during the first quarter worth $77,000. Williams & Novak LLC purchased a new position in shares of Radiant Logistics during the fourth quarter worth $78,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Radiant Logistics in the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Insiders Place Their Bets

In other Radiant Logistics news, CFO Todd Macomber sold 11,868 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.25, for a total transaction of $109,779.00. Following the sale, the chief financial officer owned 87,249 shares in the company, valued at $807,053.25. This represents a 11.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Radiant Logistics Stock Performance

Shares of RLGT stock opened at $8.55 on Thursday. The firm has a 50 day moving average of $8.98 and a two-hundred day moving average of $8.11. The stock has a market capitalization of $400.40 million, a PE ratio of 25.15 and a beta of 0.83. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11. Radiant Logistics, Inc. has a 52 week low of $5.78 and a 52 week high of $9.68.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The business had revenue of $214.13 million for the quarter, compared to analyst estimates of $222.60 million. Radiant Logistics had a return on equity of 10.19% and a net margin of 1.81%.

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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