BNP Paribas Arbitrage SA Grows Holdings in Radiant Logistics Inc (NYSEAMERICAN:RLGT)

BNP Paribas Arbitrage SA grew its stake in shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) by 508.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,114 shares of the company’s stock after buying an additional 6,781 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Radiant Logistics were worth $51,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Perkins Capital Management Inc. bought a new stake in Radiant Logistics during the 1st quarter valued at approximately $715,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Radiant Logistics during the fourth quarter valued at approximately $862,000. Bank of Montreal Can lifted its holdings in shares of Radiant Logistics by 126.3% during the fourth quarter. Bank of Montreal Can now owns 29,678 shares of the company’s stock valued at $125,000 after purchasing an additional 16,565 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Radiant Logistics by 4.6% during the third quarter. Vanguard Group Inc. now owns 1,614,859 shares of the company’s stock valued at $9,544,000 after purchasing an additional 71,357 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Radiant Logistics by 887.5% during the fourth quarter. Squarepoint Ops LLC now owns 100,730 shares of the company’s stock valued at $428,000 after purchasing an additional 90,530 shares during the last quarter. 39.47% of the stock is currently owned by hedge funds and other institutional investors.

Radiant Logistics stock traded up $0.18 during midday trading on Monday, reaching $6.32. The stock had a trading volume of 395,200 shares, compared to its average volume of 396,175. Radiant Logistics Inc has a 52-week low of $3.87 and a 52-week high of $7.33.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its earnings results on Thursday, May 9th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $206.05 million during the quarter, compared to the consensus estimate of $234.84 million.

In other Radiant Logistics news, COO E Joseph Bento sold 9,779 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.53, for a total value of $63,856.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.30% of the company’s stock.

A number of brokerages recently weighed in on RLGT. TheStreet upgraded shares of Radiant Logistics from a “c+” rating to a “b” rating in a research note on Monday, March 4th. Zacks Investment Research lowered shares of Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Cowen reissued a “buy” rating and set a $7.00 price objective on shares of Radiant Logistics in a research report on Monday, May 13th. Four investment analysts have rated the stock with a buy rating, Radiant Logistics currently has a consensus rating of “Buy” and a consensus price target of $7.75.

About Radiant Logistics

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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Institutional Ownership by Quarter for Radiant Logistics (NYSEAMERICAN:RLGT)

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