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

Radiant Logistics, Inc. (NYSEAMERICAN:RLGTGet Free Report) 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.

Read Our Latest Stock Analysis on Radiant Logistics

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:RLGTGet Free Report) 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

(Get Free Report)

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.

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