Radiant Logistics Inc (NYSEAMERICAN:RLGT) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 2,043,600 shares, a growth of 8.3% from the June 15th total of 1,886,200 shares. Based on an average trading volume of 373,300 shares, the short-interest ratio is currently 5.5 days. Approximately 5.7% of the company’s stock are short sold.
Shares of RLGT stock opened at $4.92 on Tuesday. Radiant Logistics has a twelve month low of $4.02 and a twelve month high of $7.33.
A number of research analysts recently issued reports on RLGT shares. Zacks Investment Research downgraded Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Cowen restated a “buy” rating and set a $7.00 price target on shares of Radiant Logistics in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.42.
In other news, COO E Joseph Bento sold 9,779 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $6.53, for a total transaction of $63,856.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.30% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in shares of Radiant Logistics by 191.2% in the second quarter. Russell Investments Group Ltd. now owns 1,807,974 shares of the company’s stock valued at $11,099,000 after buying an additional 1,187,090 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Radiant Logistics by 258.9% in the second quarter. Ancora Advisors LLC now owns 617,344 shares of the company’s stock valued at $3,790,000 after buying an additional 445,339 shares in the last quarter. Avalon Advisors LLC purchased a new stake in shares of Radiant Logistics in the first quarter valued at approximately $1,730,000. Quantum Capital Management purchased a new stake in shares of Radiant Logistics in the first quarter valued at approximately $1,674,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Radiant Logistics by 89.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 493,488 shares of the company’s stock valued at $3,031,000 after buying an additional 232,855 shares in the last quarter. Institutional investors own 39.47% of the company’s stock.
Radiant Logistics Company Profile
Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.
Featured Story: Dollar Cost Averaging
Receive News & Ratings for Radiant Logistics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Radiant Logistics and related companies with MarketBeat.com’s FREE daily email newsletter.