Short Interest in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Increases By 40.5%

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 595,919 shares, a growth of 40.5% from the January 15th total of 424,169 shares. Based on an average daily volume of 119,365 shares, the days-to-cover ratio is presently 5.0 days. Currently, 1.7% of the company’s stock are sold short. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 119,365 shares, the days-to-cover ratio is presently 5.0 days.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Radiant Logistics in a research report on Wednesday. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a report on Tuesday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $9.00.

Institutional Trading of Radiant Logistics

Several institutional investors have recently added to or reduced their stakes in RLGT. Russell Investments Group Ltd. boosted its stake in Radiant Logistics by 54.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company’s stock valued at $3,363,000 after acquiring an additional 200,994 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Radiant Logistics by 12.4% during the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock worth $7,946,000 after purchasing an additional 148,381 shares during the last quarter. Royce & Associates LP grew its stake in Radiant Logistics by 5.3% in the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after purchasing an additional 113,720 shares in the last quarter. Jane Street Group LLC acquired a new position in Radiant Logistics in the first quarter worth about $587,000. Finally, Bank of America Corp DE increased its holdings in Radiant Logistics by 24.2% in the second quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock valued at $2,733,000 after buying an additional 87,436 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Radiant Logistics Stock Down 3.7%

Shares of Radiant Logistics stock opened at $7.33 on Friday. Radiant Logistics has a 1-year low of $5.44 and a 1-year high of $8.50. The company has a market capitalization of $343.26 million, a PE ratio of 25.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.61. The business has a 50-day moving average of $6.75 and a 200-day moving average of $6.34.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. Radiant Logistics had a return on equity of 11.05% and a net margin of 1.57%.The firm had revenue of $232.13 million during the quarter, compared to the consensus estimate of $242.08 million.

Radiant Logistics Company Profile

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.