Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Sees Large Decrease in Short Interest

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 404,857 shares, a decline of 19.4% from the February 12th total of 502,218 shares. Based on an average daily trading volume, of 174,903 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.1% of the company’s stock are sold short. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 174,903 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on RLGT. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a report on Tuesday, February 10th. Lake Street Capital restated a “buy” rating and issued a $9.00 target price on shares of Radiant Logistics in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $9.00.

Institutional Trading of Radiant Logistics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd raised its holdings in shares of Radiant Logistics by 82.5% in the fourth quarter. XTX Topco Ltd now owns 26,707 shares of the company’s stock valued at $169,000 after buying an additional 12,073 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Radiant Logistics during the 4th quarter worth about $115,000. Occudo Quantitative Strategies LP grew its holdings in Radiant Logistics by 100.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 20,553 shares of the company’s stock worth $130,000 after acquiring an additional 10,295 shares during the last quarter. Oxford Asset Management LLP bought a new stake in Radiant Logistics during the 4th quarter worth about $67,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Radiant Logistics in the 4th quarter valued at about $82,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Radiant Logistics Price Performance

NYSEAMERICAN:RLGT traded down $0.02 during mid-day trading on Tuesday, hitting $6.94. The company’s stock had a trading volume of 114,349 shares, compared to its average volume of 167,901. The company has a market capitalization of $325.00 million, a price-to-earnings ratio of 23.93 and a beta of 0.70. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. Radiant Logistics has a fifty-two week low of $5.44 and a fifty-two week high of $8.50. The stock has a fifty day moving average of $7.06 and a 200-day moving average of $6.52.

Radiant Logistics (NYSEAMERICAN:RLGT) last released its quarterly earnings data on Monday, February 9th. The company reported $0.17 earnings per share (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%.

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.