Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Down 15.7% in February

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

Radiant Logistics Stock Up 0.7%

NYSEAMERICAN:RLGT traded up $0.05 on Wednesday, hitting $7.60. The stock had a trading volume of 103,544 shares, compared to its average volume of 177,908. Radiant Logistics has a 1 year low of $5.44 and a 1 year high of $8.50. The firm’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $6.47. 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 stock has a market cap of $355.91 million, a P/E ratio of 26.21 and a beta of 0.70.

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. The company had revenue of $232.13 million during the quarter, compared to the consensus estimate of $242.08 million. Radiant Logistics had a return on equity of 11.05% and a net margin of 1.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RLGT shares. Lake Street Capital restated a “buy” rating and set a $9.00 target price on shares of Radiant Logistics in a research report on Wednesday, February 11th. TD Cowen reaffirmed a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.00.

Institutional Inflows and Outflows

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

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.