Radiant Logistics Inc (RLGT) Short Interest Update
Radiant Logistics Inc (NYSE:RLGT) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 896,887 shares, a drop of 1.1% from the September 15th total of 907,007 shares. Based on an average daily trading volume, of 153,548 shares, the days-to-cover ratio is presently 5.8 days. Approximately 2.8% of the company’s stock are short sold.
Separately, TheStreet downgraded shares of Radiant Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th.
In other news, CEO Bohn H. Crain bought 51,005 shares of the stock in a transaction on Tuesday, September 20th. The stock was bought at an average cost of $2.50 per share, for a total transaction of $127,512.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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A number of large investors have recently made changes to their positions in RLGT. Nantahala Capital Management LLC increased its stake in shares of Radiant Logistics by 6.7% in the first quarter. Nantahala Capital Management LLC now owns 2,748,540 shares of the company’s stock valued at $9,812,000 after buying an additional 173,368 shares during the last quarter. Cortina Asset Management LLC increased its stake in shares of Radiant Logistics by 2.1% in the second quarter. Cortina Asset Management LLC now owns 1,010,606 shares of the company’s stock valued at $3,032,000 after buying an additional 20,435 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Radiant Logistics by 19.4% in the second quarter. BlackRock Fund Advisors now owns 977,940 shares of the company’s stock valued at $2,934,000 after buying an additional 159,084 shares during the last quarter. Penn Capital Management Co. Inc. increased its stake in shares of Radiant Logistics by 119.1% in the second quarter. Penn Capital Management Co. Inc. now owns 825,123 shares of the company’s stock valued at $2,475,000 after buying an additional 448,598 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Radiant Logistics by 5.8% in the second quarter. Vanguard Group Inc. now owns 672,872 shares of the company’s stock valued at $2,019,000 after buying an additional 36,587 shares during the last quarter.
Shares of Radiant Logistics (NYSE:RLGT) opened at 2.53 on Thursday. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $4.41. The firm’s market capitalization is $123.61 million. The stock’s 50 day moving average is $2.79 and its 200 day moving average is $3.24.
Radiant Logistics (NYSE:RLGT) last announced its earnings results on Tuesday, September 13th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.04. The company had revenue of $183.60 million for the quarter. During the same quarter in the prior year, the company posted $0.05 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. Equities analysts predict that Radiant Logistics will post $0.18 earnings per share for the current year.
About Radiant Logistics
Radiant Logistics, Inc is a third party logistics company. The Company provides multi-modal transportation and logistics services primarily in the United States and Canada. The Company operates in two geographic operating segments: U.S. and Canada. The Company services an account base consisting of consumer goods, food and beverage, manufacturing and retail customers through a multibrand network consisting of approximately 31 Company owned offices and 128 locations operated by its independent agents, as well as an integrated international service partner network located in other markets around the globe.
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