Radiant Logistics Inc (NYSE:RLGT) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 907,007 shares, a decline of 1.9% from the August 31st total of 924,158 shares. Based on an average daily volume of 308,803 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.9% of the company’s stock are short sold.
Separately, TheStreet cut Radiant Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th.
Radiant Logistics (NYSE:RLGT) opened at 2.68 on Wednesday. The firm’s market cap is $130.93 million. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $4.57. The company has a 50 day moving average price of $2.87 and a 200 day moving average price of $3.28.
Radiant Logistics (NYSE:RLGT) last announced its earnings results on Tuesday, September 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.04. The business 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 for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Radiant Logistics will post $0.18 earnings per share for the current year.
In related news, CEO Bohn H. Crain acquired 51,005 shares of Radiant Logistics stock in a transaction on Tuesday, September 20th. The shares were bought at an average price of $2.50 per share, for a total transaction of $127,512.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A number of hedge funds have recently made changes to their positions in the stock. Menta Capital LLC increased its position in Radiant Logistics by 0.8% in the first quarter. Menta Capital LLC now owns 42,997 shares of the company’s stock worth $153,000 after buying an additional 350 shares during the period. State Street Corp increased its position in Radiant Logistics by 17.4% in the first quarter. State Street Corp now owns 314,701 shares of the company’s stock worth $1,123,000 after buying an additional 46,748 shares during the period. Geode Capital Management LLC increased its position in Radiant Logistics by 1.7% in the first quarter. Geode Capital Management LLC now owns 180,033 shares of the company’s stock worth $642,000 after buying an additional 2,946 shares during the period. Nantahala Capital Management LLC increased its position in Radiant Logistics by 6.7% in the first quarter. Nantahala Capital Management LLC now owns 2,748,540 shares of the company’s stock worth $9,812,000 after buying an additional 173,368 shares during the period. Finally, Laurel Grove Capital LLC increased its position in Radiant Logistics by 6.4% in the second quarter. Laurel Grove Capital LLC now owns 427,610 shares of the company’s stock worth $1,283,000 after buying an additional 25,725 shares during the period.
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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