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

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) saw a large 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 volume of 119,900 shares, the short-interest ratio is presently 4.4 days. Currently, 1.5% of the company’s stock are short sold.

Radiant Logistics Stock Up 0.3 %

Shares of NYSEAMERICAN RLGT traded up $0.02 during mid-day trading on Wednesday, hitting $6.79. 43,940 shares of the stock traded hands, compared to its average volume of 110,274. The firm has a market capitalization of $318.04 million, a PE ratio of 45.27 and a beta of 0.84. Radiant Logistics has a 52 week low of $4.83 and a 52 week high of $7.10.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data 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%.

Insider Transactions at Radiant Logistics

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

Institutional Trading of Radiant Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of RLGT. Price T Rowe Associates Inc. MD bought a new stake in Radiant Logistics during the 1st quarter valued at about $55,000. SG Americas Securities LLC acquired a new position in Radiant Logistics during the 3rd quarter valued at approximately $79,000. Beacon Bridge Wealth Partners LLC purchased a new stake in Radiant Logistics during the 2nd quarter valued at about $73,000. The Manufacturers Life Insurance Company lifted its stake in Radiant Logistics by 27.8% during the 2nd 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 period. Finally, AQR Capital Management LLC acquired a new stake in Radiant Logistics during the 2nd quarter worth about $145,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.