Radiant Logistics (NYSEAMERICAN:RLGT) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a hold rating to a buy rating in a research report report published on Friday.

Radiant Logistics Stock Performance

Shares of Radiant Logistics stock opened at $6.37 on Friday. Radiant Logistics has a one year low of $4.83 and a one year high of $7.03. The company has a market capitalization of $299.39 million, a price-to-earnings ratio of 57.91 and a beta of 0.86.

Institutional Trading of Radiant Logistics

A number of institutional investors have recently modified their holdings of RLGT. Price T Rowe Associates Inc. MD purchased a new stake in Radiant Logistics in the first quarter worth $55,000. Beacon Bridge Wealth Partners LLC purchased a new stake in shares of Radiant Logistics in the 2nd quarter worth about $73,000. The Manufacturers Life Insurance Company boosted its stake in shares of Radiant Logistics by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,255 shares of the company’s stock valued at $92,000 after purchasing an additional 3,533 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Radiant Logistics during the 4th quarter valued at about $102,000. Finally, Summit Global Investments purchased a new position in shares of Radiant Logistics during the fourth quarter valued at about $134,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

About Radiant Logistics

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.