Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Short Interest Update

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 297,000 shares, a drop of 20.5% from the March 15th total of 373,800 shares. Based on an average daily trading volume, of 106,800 shares, the short-interest ratio is currently 2.8 days. Approximately 0.8% of the company's shares are sold short.

Radiant Logistics Stock Performance

Radiant Logistics stock traded down $0.03 during midday trading on Friday, hitting $5.20. 91,731 shares of the stock were exchanged, compared to its average volume of 108,874. Radiant Logistics has a 52-week low of $5.12 and a 52-week high of $7.76. The stock has a market cap of $243.98 million, a PE ratio of 24.76 and a beta of 0.79.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.11 EPS for the quarter. The business had revenue of $201.08 million for the quarter. Radiant Logistics had a net margin of 1.23% and a return on equity of 12.94%.

Insider Buying and Selling

In related news, insider Arnold Goldstein sold 12,404 shares of Radiant Logistics stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $5.53, for a total transaction of $68,594.12. Following the completion of the transaction, the insider now owns 10,584 shares of the company's stock, valued at $58,529.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.50% of the stock is owned by insiders.

Institutional Trading of Radiant Logistics

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its position in shares of Radiant Logistics by 15.3% in the third quarter. Hsbc Holdings PLC now owns 55,822 shares of the company's stock valued at $319,000 after purchasing an additional 7,400 shares during the period. Bailard Inc. bought a new stake in shares of Radiant Logistics in the third quarter valued at approximately $148,000. Lord Abbett & CO. LLC bought a new stake in shares of Radiant Logistics in the third quarter valued at approximately $4,451,000. Hennion & Walsh Asset Management Inc. bought a new stake in Radiant Logistics during the 3rd quarter worth approximately $130,000. Finally, First Eagle Investment Management LLC increased its holdings in Radiant Logistics by 34.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 406,452 shares of the company's stock worth $2,296,000 after acquiring an additional 103,960 shares during the period. Institutional investors own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Radiant Logistics from a "buy" rating to a "hold" rating in a report on Wednesday.

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.