Radiant Logistics Inc (NYSEAMERICAN:RLGT) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,151,092 shares, a growth of 7.3% from the February 15th total of 1,073,205 shares. Based on an average daily volume of 133,567 shares, the short-interest ratio is currently 8.6 days. Approximately 3.6% of the company’s shares are sold short.
A number of research firms have recently issued reports on RLGT. Zacks Investment Research upgraded shares of Radiant Logistics from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research note on Wednesday, January 24th. Cowen decreased their price objective on shares of Radiant Logistics from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd.
NYSEAMERICAN:RLGT traded down $0.08 during trading hours on Monday, hitting $3.87. The stock had a trading volume of 126,300 shares, compared to its average volume of 133,195. Radiant Logistics has a one year low of $3.51 and a one year high of $6.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 1.18.
Radiant Logistics (NYSEAMERICAN:RLGT) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Radiant Logistics had a net margin of 0.77% and a return on equity of 3.29%. The firm had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $208.32 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. sell-side analysts forecast that Radiant Logistics will post 0.27 EPS for the current fiscal year.
Radiant Logistics declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 13th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners purchased a new position in shares of Radiant Logistics during the fourth quarter valued at about $2,976,000. Vanguard Group Inc. increased its position in shares of Radiant Logistics by 18.1% during the second quarter. Vanguard Group Inc. now owns 1,399,277 shares of the company’s stock valued at $7,528,000 after buying an additional 214,528 shares during the period. 22NW LP increased its position in shares of Radiant Logistics by 5.2% during the third quarter. 22NW LP now owns 1,212,664 shares of the company’s stock valued at $6,439,000 after buying an additional 59,511 shares during the period. Wasatch Advisors Inc. boosted its stake in Radiant Logistics by 109.7% during the third quarter. Wasatch Advisors Inc. now owns 572,440 shares of the company’s stock worth $3,040,000 after acquiring an additional 299,440 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Radiant Logistics during the third quarter worth about $315,000. Institutional investors own 39.47% of the company’s stock.
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Radiant Logistics Company Profile
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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