Short Interest in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Rises By 44.8%

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 586,071 shares, a growth of 44.8% from the February 26th total of 404,857 shares. Based on an average trading volume of 123,899 shares, the days-to-cover ratio is presently 4.7 days. Currently, 1.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts have weighed in on RLGT shares. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a research report on Tuesday, February 10th. Lake Street Capital reissued a “buy” rating and set a $9.00 price objective on shares of Radiant Logistics in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $9.00.

Radiant Logistics Stock Up 0.7%

RLGT stock traded up $0.05 during midday trading on Monday, hitting $6.90. The stock had a trading volume of 100,392 shares, compared to its average volume of 160,058. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market cap of $323.13 million, a price-to-earnings ratio of 23.79 and a beta of 0.70. The business has a 50-day moving average of $7.10 and a two-hundred day moving average of $6.55. Radiant Logistics has a 52-week low of $5.44 and a 52-week high of $8.50.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. The business had revenue of $232.13 million for the quarter, compared to analysts’ expectations of $242.08 million. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd grew its position in shares of Radiant Logistics by 82.5% during the 4th quarter. XTX Topco Ltd now owns 26,707 shares of the company’s stock valued at $169,000 after acquiring an additional 12,073 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Radiant Logistics in the 4th quarter worth $115,000. Occudo Quantitative Strategies LP raised its holdings in Radiant Logistics by 100.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 20,553 shares of the company’s stock worth $130,000 after purchasing an additional 10,295 shares during the period. Oxford Asset Management LLP purchased a new position in Radiant Logistics during the fourth quarter valued at $67,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Radiant Logistics during the fourth quarter valued at $82,000. Hedge funds and other institutional investors 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.