Bristlecone Value Partners LLC Acquires New Position in Radiant Logistics, Inc. $RLGT

Bristlecone Value Partners LLC acquired a new stake in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,430 shares of the company’s stock, valued at approximately $370,000. Bristlecone Value Partners LLC owned 0.12% of Radiant Logistics at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Royce & Associates LP grew its holdings in shares of Radiant Logistics by 5.3% in the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock valued at $14,397,000 after purchasing an additional 113,720 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Radiant Logistics by 12.4% in the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after purchasing an additional 148,381 shares during the period. Geode Capital Management LLC grew its holdings in shares of Radiant Logistics by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock valued at $5,283,000 after purchasing an additional 24,150 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Radiant Logistics by 54.5% in the third quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company’s stock valued at $3,363,000 after purchasing an additional 200,994 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Radiant Logistics by 24.2% in the second quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock valued at $2,733,000 after purchasing an additional 87,436 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling at Radiant Logistics

In other Radiant Logistics news, CFO Todd Macomber sold 7,500 shares of Radiant Logistics stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total transaction of $52,500.00. Following the completion of the sale, the chief financial officer directly owned 162,249 shares in the company, valued at $1,135,743. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upped their price objective on shares of 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, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $12.00.

Radiant Logistics Price Performance

Shares of RLGT opened at $9.20 on Friday. Radiant Logistics, Inc. has a 1-year low of $5.78 and a 1-year high of $9.45. The stock has a market cap of $430.84 million, a PE ratio of 27.06 and a beta of 0.82. The firm has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $7.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Radiant Logistics had a net margin of 1.81% and a return on equity of 10.19%. The business had revenue of $214.14 million during the quarter, compared to analysts’ expectations of $222.60 million.

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.