BNP Paribas Financial Markets Cuts Stake in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT)

BNP Paribas Financial Markets lessened its stake in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) by 20.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,979 shares of the company’s stock after selling 9,164 shares during the quarter. BNP Paribas Financial Markets’ holdings in Radiant Logistics were worth $231,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP increased its holdings in Radiant Logistics by 15.4% in the 3rd quarter. Royce & Associates LP now owns 1,748,216 shares of the company’s stock worth $11,241,000 after acquiring an additional 233,244 shares during the last quarter. FMR LLC increased its stake in shares of Radiant Logistics by 877.2% in the third quarter. FMR LLC now owns 1,490,354 shares of the company’s stock worth $9,583,000 after purchasing an additional 1,337,841 shares in the last quarter. Meros Investment Management LP increased its stake in shares of Radiant Logistics by 1.7% in the second quarter. Meros Investment Management LP now owns 1,154,390 shares of the company’s stock worth $6,568,000 after purchasing an additional 19,306 shares in the last quarter. CM Management LLC raised its position in shares of Radiant Logistics by 6.9% in the second quarter. CM Management LLC now owns 775,000 shares of the company’s stock valued at $4,410,000 after purchasing an additional 50,000 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Radiant Logistics by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 205,373 shares of the company’s stock valued at $1,321,000 after buying an additional 10,452 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling

In related news, insider Arnold Goldstein sold 10,584 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $6.41, for a total transaction of $67,843.44. Following the transaction, the insider now owns 12,277 shares of the company’s stock, valued at approximately $78,695.57. This trade represents a 46.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.60% of the stock is currently owned by insiders.

Radiant Logistics Stock Performance

NYSEAMERICAN:RLGT opened at $7.15 on Tuesday. The firm has a market cap of $335.48 million, a P/E ratio of 42.06 and a beta of 0.86. Radiant Logistics, Inc. has a 52-week low of $4.83 and a 52-week high of $7.78.

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

Analysts Set New Price Targets

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

Radiant Logistics Company 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.