Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its stake in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) by 15.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,748,216 shares of the company’s stock after purchasing an additional 233,244 shares during the quarter. Royce & Associates LP’s holdings in Radiant Logistics were worth $11,241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its stake in shares of Radiant Logistics by 2.6% during the 2nd quarter. Hsbc Holdings PLC now owns 68,131 shares of the company’s stock worth $384,000 after buying an additional 1,722 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Radiant Logistics by 27.8% in the second 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. Janney Montgomery Scott LLC lifted its holdings in shares of Radiant Logistics by 10.3% in the first quarter. Janney Montgomery Scott LLC now owns 73,982 shares of the company’s stock valued at $401,000 after purchasing an additional 6,895 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Radiant Logistics in the first quarter valued at approximately $55,000. Finally, SG Americas Securities LLC purchased a new position in shares of Radiant Logistics during the 3rd quarter worth approximately $79,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Radiant Logistics Trading Up 3.8 %

RLGT opened at $7.05 on Friday. The firm has a market cap of $330.79 million, a P/E ratio of 14.39 and a beta of 0.84. Radiant Logistics, Inc. has a 52 week low of $4.83 and a 52 week high of $7.54.

Radiant Logistics (NYSEAMERICAN:RLGT) last released its earnings results on Tuesday, November 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $203.57 million for the quarter. Radiant Logistics had a net margin of 1.06% and a return on equity of 11.48%.

Analysts Set New Price Targets

Separately, StockNews.com raised Radiant Logistics from a “hold” rating to a “buy” rating in a research note on Friday, August 30th.

Insider Activity at Radiant Logistics

In related news, insider Arnold Goldstein sold 10,584 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $6.41, for a total value of $67,843.44. Following the completion of the transaction, the insider now directly owns 12,277 shares in the company, valued at approximately $78,695.57. This represents a 46.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 24.60% of the company’s stock.

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.