Radiant Logistics Inc (RLGT) Short Interest Update
Radiant Logistics Inc (NYSE:RLGT) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 893,060 shares, a growth of 4.6% from the October 14th total of 853,800 shares. Based on an average daily trading volume, of 139,092 shares, the short-interest ratio is presently 6.4 days. Currently, 2.8% of the company’s stock are sold short.
Shares of Radiant Logistics (NYSE:RLGT) opened at 3.31 on Friday. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $4.41. The company has a 50-day moving average of $2.67 and a 200-day moving average of $3.08. The firm’s market capitalization is $161.49 million.
Radiant Logistics (NYSE:RLGT) last posted its earnings results on Wednesday, November 9th. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. The company earned $195.10 million during the quarter, compared to analyst estimates of $202.44 million. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. Equities research analysts predict that Radiant Logistics will post $0.18 EPS for the current fiscal year.
In other news, CEO Bohn H. Crain purchased 51,005 shares of the stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $2.50 per share, for a total transaction of $127,512.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
A number of hedge funds have recently modified their holdings of the company. JBF Capital Inc. raised its stake in shares of Radiant Logistics by 332.9% in the third quarter. JBF Capital Inc. now owns 36,410 shares of the company’s stock worth $103,000 after buying an additional 28,000 shares during the period. BlackRock Inc. raised its stake in shares of Radiant Logistics by 30.9% in the third quarter. BlackRock Inc. now owns 36,389 shares of the company’s stock worth $103,000 after buying an additional 8,590 shares during the period. Teachers Advisors Inc. raised its stake in shares of Radiant Logistics by 17.3% in the second quarter. Teachers Advisors Inc. now owns 53,030 shares of the company’s stock worth $159,000 after buying an additional 7,817 shares during the period. Acrospire Investment Management LLC raised its stake in shares of Radiant Logistics by 339.1% in the third quarter. Acrospire Investment Management LLC now owns 56,828 shares of the company’s stock worth $161,000 after buying an additional 43,886 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in shares of Radiant Logistics during the second quarter worth about $183,000.
RLGT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Radiant Logistics from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Saturday, November 5th. TheStreet cut shares of Radiant Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th.
Radiant Logistics Company Profile
Radiant Logistics, Inc is a third party logistics company. The Company provides multi-modal transportation and logistics services primarily in the United States and Canada. The Company operates in two geographic operating segments: U.S. and Canada. The Company services an account base consisting of consumer goods, food and beverage, manufacturing and retail customers through a multibrand network consisting of approximately 31 Company owned offices and 128 locations operated by its independent agents, as well as an integrated international service partner network located in other markets around the globe.
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