Lake Street Capital Has Lowered Expectations for Radiant Logistics (NYSEAMERICAN:RLGT) Stock Price

Key Points

• Lake Street Capital has reduced the price target for Radiant Logistics from $10.00 to $8.00, while maintaining a "buy" rating, suggesting a potential upside of 28.93% from its last close.
• Radiant Logistics shares fell by 9.8% on the report, trading at $6.21, with a trading volume significantly higher than its average.
• Insiders, including CFO Todd Macomber, have decreased their stakes, with Macomber selling 25,000 shares, representing a 13.76% reduction in his position.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) had its price target reduced by equities researchers at Lake Street Capital from $10.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Lake Street Capital's price objective indicates a potential upside of 28.93% from the stock's previous close.

Radiant Logistics Trading Down 9.8%

Shares of Radiant Logistics stock traded down $0.68 during trading on Tuesday, hitting $6.21. 315,285 shares of the company were exchanged, compared to its average volume of 155,127. Radiant Logistics has a 1-year low of $5.44 and a 1-year high of $7.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $292.50 million, a P/E ratio of 17.73 and a beta of 0.80. The firm's fifty day moving average price is $6.19 and its 200 day moving average price is $6.15.

Insiders Place Their Bets

In other Radiant Logistics news, CFO Todd Macomber sold 25,000 shares of Radiant Logistics stock in a transaction dated Friday, June 27th. The shares were 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 owned 156,704 shares in the company, valued at $963,729.60. The trade was a 13.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.60% of the stock is owned by company insiders.

Institutional Trading of Radiant Logistics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Radiant Logistics in the first quarter valued at approximately $56,000. ProShare Advisors LLC purchased a new stake in shares of Radiant Logistics during the 4th quarter valued at approximately $67,000. Jump Financial LLC purchased a new position in Radiant Logistics during the first quarter valued at approximately $69,000. Public Employees Retirement System of Ohio grew its stake in Radiant Logistics by 78.4% during the second quarter. Public Employees Retirement System of Ohio now owns 13,729 shares of the company's stock valued at $83,000 after acquiring an additional 6,032 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its stake in Radiant Logistics by 33.3% in the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company's stock valued at $87,000 after purchasing an additional 3,572 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

Radiant Logistics Company 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.

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