Radiant Logistics (NYSEAMERICAN:RLGT) Stock Crosses Below Fifty Day Moving Average - Here's Why

Key Points

• Radiant Logistics shares fell below their 50-day moving average, trading as low as $8.32 and last changing hands at $8.43, compared with a 50-day average of $8.99.
• Analyst sentiment remains positive overall: the stock has a “Moderate Buy” consensus rating and a $12.00 average price target, although Citigroup and Citizens JMP initiated coverage with “Market Perform” ratings.
• The company exceeded quarterly EPS expectations, reporting $0.11 versus the $0.06 consensus estimate, but revenue of $214.13 million came in below estimates of $222.60 million. CFO Todd Macomber also sold 11,868 shares, reducing his stake by 11.97%.

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.99 and traded as low as $8.32. Radiant Logistics shares last traded at $8.43, with a volume of 111,695 shares changing hands.

Analyst Ratings Changes

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

Radiant Logistics Price Performance

The company has a market capitalization of $394.78 million, a P/E ratio of 24.79 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. The business has a 50 day simple moving average of $8.99 and a 200-day simple moving average of $8.05.

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

Insider Buying and Selling

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 shares were sold at an average price of $9.25, for a total value of $109,779.00. Following the completion of the transaction, the chief financial officer owned 87,249 shares in the company, valued at approximately $807,053.25. This represents a 11.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.30% of the company's stock.

Hedge Funds Weigh In On Radiant Logistics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Oxford Asset Management LLP bought a new position in Radiant Logistics in the 4th quarter worth approximately $67,000. Ritholtz Wealth Management acquired a new position in Radiant Logistics during the 1st quarter worth $77,000. Williams & Novak LLC acquired a new position in Radiant Logistics during the 4th quarter worth $78,000. BNP Paribas Financial Markets boosted its position in Radiant Logistics by 45.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company's stock worth $76,000 after acquiring an additional 4,001 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Radiant Logistics in the fourth quarter worth $82,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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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