Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Sees Large Increase in Short Interest

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report) saw a significant increase in short interest in the month of 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 volume of 119,900 shares, the days-to-cover ratio is presently 4.4 days. Approximately 1.5% of the company's shares are sold short.

Wall Street Analyst Weigh In

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

Radiant Logistics Stock Down 0.9 %

NYSEAMERICAN:RLGT traded down $0.06 during mid-day trading on Monday, reaching $6.77. 117,162 shares of the stock were exchanged, compared to its average volume of 110,836. The company has a market capitalization of $317.11 million, a PE ratio of 45.14 and a beta of 0.84. Radiant Logistics has a 1 year low of $4.83 and a 1 year high of $7.10.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last issued its quarterly 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 firm 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%.

Insider Buying and Selling at Radiant Logistics

In related news, insider Arnold Goldstein sold 10,584 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $6.41, for a total transaction of $67,843.44. Following the completion of the transaction, the insider now directly owns 12,277 shares in the company, valued at $78,695.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 24.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Radiant Logistics

A number of hedge funds and other institutional investors have recently bought and sold shares of RLGT. Price T Rowe Associates Inc. MD purchased a new stake in Radiant Logistics in the 1st quarter valued at approximately $55,000. Beacon Bridge Wealth Partners LLC acquired a new stake in shares of Radiant Logistics in the 2nd quarter valued at approximately $73,000. SG Americas Securities LLC purchased a new stake in shares of Radiant Logistics in the third quarter valued at approximately $79,000. The Manufacturers Life Insurance Company grew its holdings in Radiant Logistics by 27.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,255 shares of the company's stock worth $92,000 after acquiring an additional 3,533 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Radiant Logistics in the second quarter worth $145,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

About Radiant Logistics

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.