Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Update

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 435,695 shares, a drop of 25.7% from the March 15th total of 586,071 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 116,389 shares, the days-to-cover ratio is presently 3.7 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Lake Street Capital reiterated a “buy” rating and set a $9.00 price target on shares of Radiant Logistics in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.00.

Insider Buying and Selling at Radiant Logistics

In other news, CFO Todd Macomber sold 7,500 shares of Radiant Logistics stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total transaction of $52,500.00. Following the transaction, the chief financial officer owned 162,249 shares in the company, valued at $1,135,743. This trade represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 24.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Radiant Logistics

A number of institutional investors have recently added to or reduced their stakes in RLGT. Rothschild Wealth LLC purchased a new stake in Radiant Logistics during the 4th quarter valued at approximately $1,808,000. Russell Investments Group Ltd. lifted its position in shares of Radiant Logistics by 54.5% during the third quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company’s stock worth $3,363,000 after purchasing an additional 200,994 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Radiant Logistics by 12.4% during the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock worth $7,946,000 after purchasing an additional 148,381 shares during the last quarter. Royce & Associates LP lifted its position in shares of Radiant Logistics by 5.3% during the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after purchasing an additional 113,720 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Radiant Logistics during the first quarter worth $587,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Radiant Logistics Price Performance

RLGT traded down $0.16 during trading on Wednesday, reaching $7.91. 220,904 shares of the company traded hands, compared to its average volume of 118,151. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. Radiant Logistics has a 12-month low of $5.61 and a 12-month high of $8.50. The firm has a fifty day simple moving average of $7.31 and a 200 day simple moving average of $6.67. The company has a market cap of $370.43 million, a P/E ratio of 27.28 and a beta of 0.70.

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

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.