Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Update
by Amy Steele · The Cerbat GemRadiant Logistics, Inc. (NYSEAMERICAN:RLGT – Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 435,695 shares, a decline of 25.7% from the March 15th total of 586,071 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 116,389 shares, the days-to-cover ratio is presently 3.7 days.
Radiant Logistics Stock Performance
Shares of RLGT traded up $0.22 during trading hours on Friday, hitting $8.32. The company had a trading volume of 177,667 shares, compared to its average volume of 121,818. The firm has a market cap of $389.63 million, a price-to-earnings ratio of 28.69 and a beta of 0.70. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $7.35 and a 200-day moving average of $6.69. Radiant Logistics has a 12 month low of $5.61 and a 12 month high of $8.50.
Radiant Logistics (NYSEAMERICAN:RLGT – Get Free Report) last released its quarterly earnings results on Monday, February 9th. The company reported $0.17 EPS 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 analyst estimates of $242.08 million. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%.
Analyst Upgrades and Downgrades
RLGT has been the topic of several recent analyst reports. 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 issued a $9.00 target price on shares of Radiant Logistics in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Radiant Logistics has a consensus rating of “Buy” and an average price target of $9.00.
Check Out Our Latest Analysis on RLGT
Insiders Place Their Bets
In other Radiant Logistics news, CFO Todd Macomber sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was 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 approximately $1,135,743. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Radiant Logistics by 16.7% during the 1st quarter. AQR Capital Management LLC now owns 34,738 shares of the company’s stock worth $214,000 after buying an additional 4,982 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Radiant Logistics by 165.6% during the first quarter. Integrated Wealth Concepts LLC now owns 32,517 shares of the company’s stock valued at $200,000 after acquiring an additional 20,272 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Radiant Logistics during the first quarter worth $89,000. Empowered Funds LLC lifted its holdings in Radiant Logistics by 7.5% during the first quarter. Empowered Funds LLC now owns 232,046 shares of the company’s stock worth $1,427,000 after acquiring an additional 16,141 shares during the period. Finally, Jane Street Group LLC purchased a new position in Radiant Logistics in the first quarter worth $587,000. 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.