Short Interest in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Declines By 15.7%

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 502,218 shares, a decrease of 15.7% from the January 29th total of 595,919 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 318,551 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 318,551 shares, the short-interest ratio is currently 1.6 days. Currently, 1.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Lake Street Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Radiant Logistics in a research report on Wednesday, February 11th. TD Cowen reiterated a “buy” rating on shares of Radiant Logistics in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.00.

Radiant Logistics Stock Down 3.6%

Radiant Logistics stock traded down $0.27 during mid-day trading on Thursday, reaching $7.33. 19,694 shares of the company were exchanged, compared to its average volume of 174,164. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market cap of $343.26 million, a P/E ratio of 25.28 and a beta of 0.70. The business has a fifty day moving average of $6.96 and a 200 day moving average of $6.47. Radiant Logistics has a 12-month low of $5.44 and a 12-month high of $8.50.

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

Institutional Investors Weigh In On Radiant Logistics

Several institutional investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC purchased a new position in Radiant Logistics in the 2nd quarter worth $378,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Radiant Logistics in the second quarter worth about $129,000. Boston Partners lifted its holdings in shares of Radiant Logistics by 32.7% during the second quarter. Boston Partners now owns 95,584 shares of the company’s stock worth $581,000 after purchasing an additional 23,570 shares during the period. Bailard Inc. purchased a new stake in Radiant Logistics in the second quarter valued at approximately $249,000. Finally, Corton Capital Inc. acquired a new position in Radiant Logistics in the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

About Radiant Logistics

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.