Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Up 44.8% in March

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

Radiant Logistics Trading Up 0.9%

RLGT stock traded up $0.06 during trading on Monday, hitting $6.91. The company had a trading volume of 22,359 shares, compared to its average volume of 158,731. 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 firm has a 50-day moving average price of $7.10 and a 200-day moving average price of $6.55. Radiant Logistics has a 12 month low of $5.44 and a 12 month high of $8.50. The stock has a market cap of $323.60 million, a price-to-earnings ratio of 23.79 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 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. The firm had revenue of $232.13 million for the quarter, compared to analyst estimates of $242.08 million. Radiant Logistics had a return on equity of 11.05% and a net margin of 1.57%.

Hedge Funds Weigh In On Radiant Logistics

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in 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 purchasing an additional 4,982 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Radiant Logistics by 165.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 32,517 shares of the company’s stock valued at $200,000 after purchasing an additional 20,272 shares during the period. NewEdge Advisors LLC bought a new position in shares of Radiant Logistics in the 1st quarter valued at about $89,000. Empowered Funds LLC grew its position in shares of Radiant Logistics by 7.5% during the 1st quarter. Empowered Funds LLC now owns 232,046 shares of the company’s stock worth $1,427,000 after buying an additional 16,141 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Radiant Logistics during the 1st quarter worth approximately $587,000. Institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.