Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Down 19.4% in February

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 404,857 shares, a drop of 19.4% from the February 12th total of 502,218 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 174,903 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 174,903 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Radiant Logistics

Large investors have recently added to or reduced their stakes in the business. Oxford Asset Management LLP purchased a new stake in shares of Radiant Logistics in the fourth quarter worth approximately $67,000. Williams & Novak LLC purchased a new position in shares of Radiant Logistics during the fourth quarter valued at approximately $78,000. BNP Paribas Financial Markets boosted its position in shares of Radiant Logistics by 45.4% during the third quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock valued at $76,000 after buying an additional 4,001 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Radiant Logistics during the fourth quarter worth $82,000. Finally, Boothbay Fund Management LLC grew its holdings in Radiant Logistics by 33.3% during the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock worth $87,000 after buying an additional 3,572 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RLGT shares. Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 price target on shares of Radiant Logistics in a research note on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.00.

Radiant Logistics Price Performance

Shares of NYSEAMERICAN:RLGT opened at $6.81 on Friday. Radiant Logistics has a twelve month low of $5.44 and a twelve month high of $8.50. The stock’s 50 day moving average is $7.05 and its 200-day moving average is $6.51. 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 market capitalization of $318.91 million, a price-to-earnings ratio of 23.48 and a beta of 0.70.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. The business had revenue of $232.13 million during 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%.

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.