BB&T Securities LLC decreased its position in shares of Radiant Logistics (NYSEAMERICAN:RLGT) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,437 shares of the company’s stock after selling 19,659 shares during the quarter. BB&T Securities LLC’s holdings in Radiant Logistics were worth $190,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in Radiant Logistics by 11.1% in the 2nd quarter. State Street Corp now owns 588,753 shares of the company’s stock valued at $3,167,000 after acquiring an additional 59,023 shares during the period. The Manufacturers Life Insurance Company grew its stake in Radiant Logistics by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock valued at $172,000 after acquiring an additional 489 shares during the period. First Trust Advisors LP acquired a new stake in Radiant Logistics in the 3rd quarter valued at $141,000. Macquarie Group Ltd. acquired a new stake in Radiant Logistics in the 3rd quarter valued at $315,000. Finally, Wells Fargo & Company MN grew its stake in Radiant Logistics by 15.2% in the 3rd quarter. Wells Fargo & Company MN now owns 185,923 shares of the company’s stock valued at $987,000 after acquiring an additional 24,556 shares during the period. 39.47% of the stock is currently owned by institutional investors and hedge funds.
Radiant Logistics stock opened at $3.67 on Friday. Radiant Logistics has a 1 year low of $3.51 and a 1 year high of $6.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 1.18.
Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $206.70 million for the quarter, compared to analyst estimates of $208.32 million. Radiant Logistics had a return on equity of 3.29% and a net margin of 0.77%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. analysts predict that Radiant Logistics will post 0.27 earnings per share for the current fiscal year.
Radiant Logistics declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 13th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
RLGT has been the topic of a number of research analyst reports. Cowen dropped their price target on shares of Radiant Logistics from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Zacks Investment Research cut shares of Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd.
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Radiant Logistics Company Profile
Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.
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