its price and traded approximately 300 shares on the market.The most curious thing here is that Radiant has not released any news about its business recently. However, a few statements of changes in the company’s beneficial ownership came up on the otcmarkets website last week. According to these, members of the management team have bought different amounts of the company’s common stock. As soon as the team acquired RLGT shares, the stock price started to rise up. Is it by chance, or are these shares meant to be re-sold at a higher price? It’s up to be seen.[BANNER]
Radiant Logistics, Inc. is a non-asset based logistics company providing domestic and international freight forwarding services through a network that includes a combination of company-owned and exclusive agent offices across North America. For the three months ended September 30, Radiant reported net income of $783 thousand and $46.4 million in revenues, which is $0.03 per basic and fully diluted share.
Radiant’s adjusted EBITDA for the same period totaled about $1.7 million, compared to $722 thousand for the year before. However, the company’s operating loss has increased significantly as well as its liabilities, which are about to reach the sum of the total assets. Besides, Radiant hasn’t paid its long-term debt, which has also got higher.
Radiant has a share repurchase program that authorizes them to purchase up to 5 million shares of common stock through end-December this year. Though, the management claims it “will be required to make significant payments in the future if the earn-out installments under our various acquisitions become due”. Thus, they “may have to secure additional sources of capital”, which is connected with certain risks and potential dilution to the stockholders.
