Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Up 28.1% in October

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 532,100 shares, an increase of 28.1% from the September 30th total of 415,300 shares. Based on an average daily trading volume, of 119,900 shares, the days-to-cover ratio is currently 4.4 days. Currently, 1.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Radiant Logistics from a “hold” rating to a “buy” rating in a report on Friday, August 30th.

Insider Transactions at Radiant Logistics

In related news, insider Arnold Goldstein sold 10,584 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $6.41, for a total value of $67,843.44. Following the transaction, the insider now owns 12,277 shares in the company, valued at approximately $78,695.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.60% of the company’s stock.

Hedge Funds Weigh In On Radiant Logistics

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Radiant Logistics in the first quarter valued at about $55,000. Beacon Bridge Wealth Partners LLC bought a new stake in shares of Radiant Logistics in the 2nd quarter worth $73,000. SG Americas Securities LLC purchased a new stake in shares of Radiant Logistics during the third quarter valued at approximately $79,000. The Manufacturers Life Insurance Company boosted its stake in Radiant Logistics by 27.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,255 shares of the company’s stock valued at $92,000 after acquiring an additional 3,533 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Radiant Logistics during the 2nd quarter worth $145,000. 53.59% of the stock is owned by institutional investors.

Radiant Logistics Price Performance

Radiant Logistics stock traded up $0.02 during mid-day trading on Wednesday, reaching $6.79. The company had a trading volume of 43,940 shares, compared to its average volume of 110,274. Radiant Logistics has a 52 week low of $4.83 and a 52 week high of $7.10. The company has a market cap of $318.04 million, a PE ratio of 45.27 and a beta of 0.84.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its earnings results on Thursday, September 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $206.03 million during the quarter. Radiant Logistics had a net margin of 0.96% and a return on equity of 10.91%.

Radiant Logistics Company Profile

Radiant Logistics, Inc, a third-party logistics company, provides technology-enabled global transportation and value-added logistics solutions primarily in the United States and Canada. The company offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.