Short Interest in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Drops By 22.1%

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 424,169 shares, a decrease of 22.1% from the December 31st total of 544,629 shares. Based on an average daily volume of 117,699 shares, the days-to-cover ratio is currently 3.6 days. Approximately 1.2% of the company’s shares are sold short. Approximately 1.2% of the company’s shares are sold short. Based on an average daily volume of 117,699 shares, the days-to-cover ratio is currently 3.6 days.

Institutional Investors Weigh In On Radiant Logistics

Several large investors have recently modified their holdings of RLGT. Russell Investments Group Ltd. increased its stake in Radiant Logistics by 54.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company’s stock valued at $3,363,000 after purchasing an additional 200,994 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Radiant Logistics by 12.4% in the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after buying an additional 148,381 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Radiant Logistics during the 1st quarter worth $587,000. Bank of America Corp DE boosted its position in shares of Radiant Logistics by 24.2% in the 2nd quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock worth $2,733,000 after buying an additional 87,436 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Radiant Logistics in the 2nd quarter valued at about $530,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Radiant Logistics Stock Up 2.4%

Shares of Radiant Logistics stock traded up $0.17 on Tuesday, reaching $7.14. 129,025 shares of the company were exchanged, compared to its average volume of 110,416. Radiant Logistics has a 1-year low of $5.44 and a 1-year high of $7.94. The stock’s 50 day moving average price is $6.57 and its 200-day moving average price is $6.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $334.37 million, a P/E ratio of 23.03 and a beta of 0.74.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Radiant Logistics had a net margin of 1.64% and a return on equity of 12.43%. The company had revenue of $226.66 million for the quarter, compared to analyst estimates of $206.64 million.

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.