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

Key Points

• Short interest fell 25.7% in March to 435,695 shares (about 1.2% of shares outstanding), leaving a days-to-cover of roughly 3.7.
• CFO insider sale: Todd Macomber sold 7,500 shares at an average price of $7.00 on March 31, reducing his stake by 4.42%; corporate insiders still own 24.30% of the company.
• Results and analyst view: Radiant beat EPS estimates ($0.17 vs. $0.09) but missed revenue expectations, the stock trades near $7.91, and analysts hold an average target of $9.00 with two "Buy" ratings.

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 435,695 shares, a drop of 25.7% from the March 15th total of 586,071 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 116,389 shares, the days-to-cover ratio is presently 3.7 days.

Radiant Logistics Stock Performance

RLGT traded down $0.16 during trading on Wednesday, hitting $7.91. 220,904 shares of the company traded hands, compared to its average volume of 118,151. The firm has a market cap of $370.43 million, a P/E ratio of 27.28 and a beta of 0.70. The stock's fifty day moving average is $7.31 and its 200 day moving average is $6.67. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. Radiant Logistics has a one year low of $5.61 and a one year high of $8.50.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last issued its earnings results on Monday, February 9th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.08. The firm had revenue of $232.13 million during the quarter, compared to analyst estimates of $242.08 million. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%.

Insider Activity

In related news, CFO Todd Macomber sold 7,500 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total transaction of $52,500.00. Following the transaction, the chief financial officer directly owned 162,249 shares of the company's stock, valued at approximately $1,135,743. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RLGT. Oxford Asset Management LLP bought a new position in Radiant Logistics in the 4th quarter worth about $67,000. Williams & Novak LLC bought a new position in Radiant Logistics during the 4th quarter valued at about $78,000. BNP Paribas Financial Markets lifted its stake in Radiant Logistics by 45.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company's stock valued at $76,000 after acquiring an additional 4,001 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Radiant Logistics in the 4th quarter worth approximately $82,000. Finally, Boothbay Fund Management LLC lifted its stake in shares of Radiant Logistics by 33.3% in the 2nd quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company's stock worth $87,000 after purchasing an additional 3,572 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RLGT. TD Cowen reaffirmed a "buy" rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Lake Street Capital reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Radiant Logistics in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $9.00.

About Radiant Logistics

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.

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