Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 2.74MM shares of Radiant Logistics Inc (RLGT). This represents 5.6% of the company.
In their previous filing dated February 3, 2022 they reported 2.87MM shares and 5.80% of the company, a decrease in shares of 4.67% and a decrease in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 104.55% Upside
As of January 27, 2023, the average one-year price target for Radiant Logistics is $11.48. The forecasts range from a low of $10.10 to a high of $13.65. The average price target represents an increase of 104.55% from its latest reported closing price of $5.61.
The projected annual revenue for Radiant Logistics is $1,529MM, an increase of 14.30%. The projected annual EPS is $0.76, a decrease of 3.38%.
Fund Sentiment
There are 284 funds or institutions reporting positions in Radiant Logistics. This is a decrease of 4 owner(s) or 1.39%.
Average portfolio weight of all funds dedicated to US:RLGT is 0.1337%, a decrease of 20.4485%. Total shares owned by institutions decreased in the last three months by 4.17% to 32,763K shares.
What are large shareholders doing?
Wellington Management Group Llp holds 2,116,441 shares representing 4.47% ownership of the company. In it's prior filing, the firm reported owning 2,409,217 shares, representing a decrease of 13.83%. The firm decreased its portfolio allocation in RLGT by 28.75% over the last quarter.
Kanen Wealth Management holds 1,708,265 shares representing 3.61% ownership of the company. In it's prior filing, the firm reported owning 1,682,812 shares, representing an increase of 1.49%. The firm decreased its portfolio allocation in RLGT by 16.31% over the last quarter.
Wasatch Advisors holds 1,372,088 shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 1,543,251 shares, representing a decrease of 12.47%. The firm decreased its portfolio allocation in RLGT by 25.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,368,861 shares representing 2.89% ownership of the company. No change in the last quarter.
Royce & Associates holds 1,120,328 shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 1,092,728 shares, representing an increase of 2.46%. The firm decreased its portfolio allocation in RLGT by 13.63% over the last quarter.
Radiant Logistics Background Information
(This description is provided by the company.)
Radiant Logistics, Inc. is a comprehensive North American provider of third-party logistics and multimodal transportation services. Through its comprehensive service offering, Radiant provides domestic and international freight forwarding services, truck and rail brokerage services and other value-added supply chain management services, including customs brokerage, order fulfillment, inventory management and warehousing to a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
