Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Up 40.5% in January

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the recipient of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 595,919 shares, a growth of 40.5% from the January 15th total of 424,169 shares. Based on an average daily trading volume, of 119,365 shares, the short-interest ratio is presently 5.0 days. Approximately 1.7% of the company’s stock are sold short. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 119,365 shares, the short-interest ratio is presently 5.0 days.

Radiant Logistics Stock Performance

Shares of RLGT traded down $0.28 during mid-day trading on Monday, reaching $7.33. The company’s stock had a trading volume of 274,131 shares, compared to its average volume of 214,065. 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 1-year low of $5.44 and a 1-year high of $8.50. The business has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $6.35. The stock has a market cap of $343.26 million, a P/E ratio of 25.28 and a beta of 0.74.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its earnings results on Monday, February 9th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.09 by $0.08. The company had revenue of $232.13 million for 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

RLGT has been the subject of several analyst reports. Lake Street Capital restated a “buy” rating and issued a $9.00 price objective on shares of Radiant Logistics in a report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.00.

Hedge Funds Weigh In On Radiant Logistics

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in Radiant Logistics by 6.4% during the fourth quarter. Barclays PLC now owns 146,791 shares of the company’s stock worth $929,000 after buying an additional 8,887 shares in the last quarter. Bristlecone Value Partners LLC bought a new stake in shares of Radiant Logistics during the 4th quarter worth approximately $370,000. Charles Schwab Investment Management Inc. boosted its position in shares of Radiant Logistics by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,620 shares of the company’s stock worth $662,000 after acquiring an additional 6,766 shares in the last quarter. Wells Fargo & Company MN increased its stake in Radiant Logistics by 42.5% in the fourth quarter. Wells Fargo & Company MN now owns 42,640 shares of the company’s stock valued at $270,000 after acquiring an additional 12,715 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Radiant Logistics by 89.4% during the fourth quarter. Jane Street Group LLC now owns 87,246 shares of the company’s stock valued at $552,000 after purchasing an additional 41,186 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

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.