Dimensional Fund Advisors LP recently announced the acquisition of new stake in Radiant Logistics Inc. (AMEX:RLGT). The institutional investor has increased its shareholding in the Industrials company by 0.96% to 2.65 million shares with purchase of 25130.0 shares. This fresh investment now brings its stake to 5.35% valued currently at $13.48 million. In addition, Kanen Wealth Management LLC raised its holdings by 25453.0 to 1.71 million shares. And Royce & Associates LP has lifted its position by 2.53% or 27600.0 shares – to 1.12 million shares.
With over 0.11 million Radiant Logistics Inc. (RLGT) shares trading Tuesday and a closing price of $5.58 on the day, the dollar volume was approximately $0.61 million. The shares have shown a negative half year performance of -23.03% and its price on 01/24/23 gained nearly 1.64%. Currently, there are 49.44M common shares owned by the public and among those 37.45M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RLGT have a consensus price objective of $11.00. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $10.00. The average price target is 50.4% above its recent price level and an upside to the estimated low will see the stock gain 44.2% over that period. But an upside of 53.5% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 182,453 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 62,571 shares.
The top 3 mutual fund holders in Radiant Logistics Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Royce Small-Cap Opportunity Fund. Vanguard Total Stock Market Index owns 1.37 million shares of the company’s stock, all valued at over $6.97 million. iShares Russell 2000 ETF sold 8906.0 shares to see its total holdings shrink to 0.86 million shares valued at over $4.36 million and representing 1.73% of the shares outstanding. Royce Small-Cap Opportunity Fund bought 32300.0 shares to bring its total holdings to over 0.73 million shares at a value of $3.73 million. Royce Small-Cap Opportunity Fund now owns shares totaling to 1.48% of the shares outstanding.
Shares of Radiant Logistics Inc. (AMEX: RLGT) opened at $5.52, up $0.03 from a prior closing price of $5.49. However, the script later moved the day high at 5.64, up 1.64%. The company’s stock has a 5-day price change of 5.68% and -3.46% over the past three months. RLGT shares are trading 9.63% year to date (YTD), with the 12-month market performance down to -14.55% lower. It has a 12-month low price of $4.93 and touched a high of $8.09 over the same period. RLGT has an average intraday trading volume of 114.97K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.65%, 3.75%, and -11.30% respectively.
Institutional ownership of Radiant Logistics Inc. (AMEX: RLGT) shares accounts for 56.40% of the company’s 49.44M shares outstanding. Mutual fund holders own 28.53%, while other institutional holders and individual stakeholders account for 32.57% and 26.92% respectively.
It has a market capitalization of $273.64M and a beta (3y monthly) value of 0.95. The stock’s trailing 12-month PE ratio is 9.51, while the earnings-per-share (ttm) stands at $0.59. The company has a PEG of 0.39 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.18% over the week and 2.98% over the month.
Analysts forecast that Radiant Logistics Inc. (RLGT) will achieve an EPS of $0.24 for the current quarter, $0.17 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.24. Comparatively, EPS for the current quarter was $0.21 a year ago. EPS should shrink at an annualized rate of 24.60% over the next five years, compared to 42.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Radiant Logistics Inc. (RLGT) as a “Strong Buy” at a consensus score of 1.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RLGT, a number of firms have released research notes about the stock. Vertical Research stated their Buy rating for the stock in a research note on March 26, 2021, with the firm’s price target at $10. The Benchmark Company coverage for the Radiant Logistics Inc. (RLGT) stock in a research note released on February 28, 2020 offered a Buy rating with a price target of $8. Cowen was of a view on February 10, 2017 that the stock is Outperform, while Cowen gave the stock Outperform rating on July 29, 2015, issuing a price target of $8.25. Lake Street on their part issued Buy rating on June 16, 2015.
