Radiant Logistics Inc (NYSEAMERICAN:RLGT) Sees Significant Decline in Short Interest

Radiant Logistics Inc (NYSEAMERICAN:RLGT) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,870,000 shares, a decrease of 5.6% from the September 30th total of 1,980,000 shares. Based on an average daily trading volume, of 210,200 shares, the short-interest ratio is presently 8.9 days. Currently, 5.2% of the company’s shares are short sold.

Several analysts recently weighed in on the company. Zacks Investment Research lowered Radiant Logistics from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Cowen set a $7.00 target price on Radiant Logistics and gave the stock a “buy” rating in a research note on Friday, September 13th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC raised its stake in Radiant Logistics by 9.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 37,919 shares of the company’s stock valued at $233,000 after acquiring an additional 3,228 shares during the last quarter. Jefferies Group LLC increased its stake in Radiant Logistics by 38.4% in the 2nd quarter. Jefferies Group LLC now owns 21,456 shares of the company’s stock valued at $132,000 after purchasing an additional 5,952 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in Radiant Logistics by 1.4% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 470,100 shares of the company’s stock valued at $2,887,000 after purchasing an additional 6,300 shares in the last quarter. Carillon Tower Advisers Inc. increased its stake in Radiant Logistics by 2.0% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 332,875 shares of the company’s stock valued at $2,044,000 after purchasing an additional 6,525 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Radiant Logistics by 8.7% in the 2nd quarter. Wells Fargo & Company MN now owns 85,628 shares of the company’s stock valued at $526,000 after purchasing an additional 6,854 shares in the last quarter. 39.47% of the stock is currently owned by institutional investors and hedge funds.

RLGT opened at $5.22 on Monday. Radiant Logistics has a 12-month low of $4.06 and a 12-month high of $7.33.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $200.54 million for the quarter, compared to the consensus estimate of $200.56 million.

Radiant Logistics Company Profile

Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.

Recommended Story: Monthly Dividend Stocks Can Provide Solid Income

Receive News & Ratings for Radiant Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radiant Logistics and related companies with MarketBeat.com's FREE daily email newsletter.