Lucid files for 1-for-10 reverse stock split requiring shareholder approval
Arnold Goldstein, Chief Commercial Officer of Radiant Logistics, Inc. (NYSE:RLGT), sold 18,331 shares of the company’s common stock on February 18, 2025. The sale comes as RLGT trades near its 52-week high of $7.94, having gained over 25% in the past six months. The shares were sold at a weighted average price of $7.7369, amounting to a total transaction value of $141,825. This sale leaves Goldstein with a remaining holding of 30,608 shares in the company. The shares were sold in multiple transactions, with prices ranging from $7.62 to $7.85. Analysts maintain a bullish outlook on RLGT, with price targets ranging from $9 to $10. According to InvestingPro, the company operates with moderate debt levels and is expected to see net income growth this year.
In other recent news, Radiant Logistics Inc . reported a significant increase in financial performance for Q2 FY2024, with net income surging by 556.5% year-over-year. The company’s earnings per share (EPS) stood at $0.14, surpassing market expectations by 94.5%, on revenues of $264.5 million. Radiant Logistics attributed this growth to strategic acquisitions and enhanced operational capabilities. The company completed several acquisitions, including Texas-based Foundation Logistics and TCV Transportation in Missouri, which are expected to drive future revenue synergies. Despite these strong results, the company anticipates continued market challenges and has expressed a focus on strategic acquisitions and balance sheet optimization. Analyst firms have noted Radiant’s strong earnings performance, with TD Cowen and Lake Street participating in the earnings call. Radiant’s management remains optimistic about their strategic position and future growth, despite the challenging market environment.
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