Strs Ohio Acquires New Position in Radiant Logistics, Inc. $RLGT

Key Points

• Strs Ohio invested approximately $476,000 in Radiant Logistics by acquiring 77,400 shares during the first quarter, representing about 0.16% of the company.
• CFO Todd Macomber sold 25,000 shares at an average price of $6.15, resulting in a 13.76% decrease in his holdings, which is now valued at around $963,729.60.
• Analyst ratings for Radiant Logistics show a current consensus rating of "Buy" with a price target lowered from $10.00 to $8.00 by Lake Street Capital.

Strs Ohio bought a new stake in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 77,400 shares of the company's stock, valued at approximately $476,000. Strs Ohio owned approximately 0.16% of Radiant Logistics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLGT. Quarry LP bought a new position in Radiant Logistics during the first quarter worth $56,000. ProShare Advisors LLC acquired a new position in Radiant Logistics in the fourth quarter valued at about $67,000. Jump Financial LLC acquired a new position in Radiant Logistics in the first quarter valued at about $69,000. NewEdge Advisors LLC acquired a new position in Radiant Logistics in the first quarter valued at about $89,000. Finally, EP Wealth Advisors LLC raised its stake in Radiant Logistics by 54.2% in the first quarter. EP Wealth Advisors LLC now owns 15,507 shares of the company's stock valued at $95,000 after purchasing an additional 5,453 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Radiant Logistics

In other news, CFO Todd Macomber sold 25,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $6.15, for a total transaction of $153,750.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. 24.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital dropped their price target on Radiant Logistics from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $8.00.

Radiant Logistics Trading Up 0.8%

Shares of Radiant Logistics stock traded up $0.05 on Monday, reaching $6.00. 327,265 shares of the company's stock were exchanged, compared to its average volume of 222,693. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.56 and a current ratio of 1.56. Radiant Logistics, Inc. has a 52 week low of $5.44 and a 52 week high of $7.94. The firm's 50-day moving average is $6.18 and its two-hundred day moving average is $6.10. The company has a market capitalization of $282.84 million, a P/E ratio of 17.14 and a beta of 0.80.

Radiant Logistics Profile

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.