Radiant Logistics (NYSEAMERICAN:RLGT) Share Price Passes Below 50-Day Moving Average - Should You Sell?

Key Points

• Radiant Logistics shares fell below their 50-day moving average, reaching $8.52 and last trading at $8.54, compared with a 50-day average of $8.90.
• Analyst sentiment remains positive overall: two analysts rate the stock Buy and two rate it Hold, producing a consensus rating of Moderate Buy and a $12.00 price target.
• The company has relatively low leverage, with a debt-to-equity ratio of 0.11, while institutional investors own 53.59% of outstanding shares. The CFO recently sold 11,868 shares at an average price of $9.25.

Shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.90 and traded as low as $8.52. Radiant Logistics shares last traded at $8.54, with a volume of 192,702 shares changing hands.

Analyst Ratings Changes

RLGT has been the subject of a number of recent research reports. 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. Citigroup began coverage on shares of Radiant Logistics in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Finally, Citizens Jmp 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Radiant Logistics presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

Radiant Logistics Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a fifty day simple moving average of $8.90 and a two-hundred day simple moving average of $8.26. The firm has a market cap of $399.93 million, a PE ratio of 25.12 and a beta of 0.83.

Insider Transactions at Radiant Logistics

In related news, CFO Todd Macomber sold 11,868 shares of the company's stock in a transaction on Monday, June 15th. The shares were 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 of the company's stock, valued at $807,053.25. This represents a 11.97% decrease in their ownership of the stock. The transaction 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 insiders.

Hedge Funds Weigh In On Radiant Logistics

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its holdings in shares of Radiant Logistics by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,049 shares of the company's stock worth $536,000 after buying an additional 1,684 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Radiant Logistics by 12.6% in the 2nd quarter. NewEdge Advisors LLC now owns 16,375 shares of the company's stock valued at $100,000 after acquiring an additional 1,833 shares during the last quarter. California State Teachers Retirement System grew its position in Radiant Logistics by 142.8% in the second quarter. California State Teachers Retirement System now owns 4,758 shares of the company's stock worth $45,000 after acquiring an additional 2,798 shares in the last quarter. Bank of New York Mellon Corp grew its position in Radiant Logistics by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 115,948 shares of the company's stock worth $817,000 after acquiring an additional 3,150 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Radiant Logistics by 6.0% during the second quarter. Rhumbline Advisers now owns 56,821 shares of the company's stock worth $345,000 after acquiring an additional 3,198 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

About Radiant Logistics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source