Radiant Logistics, Inc. (RLGT): Are Hedge Funds Right About This Stock?

Now, some big names have been driving this bullishness. Alyeska Investment Group created the largest position in Radiant Logistics, Inc. (NYSEMKT:RLGT). David Costen Haley’s HBK Investments also made a $0.2 million investment in the stock during the quarter. The other funds with brand new RLGT positions are Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital and Chuck Royce’s Royce & Associates.

Let’s now review hedge fund activity in other stocks similar to Radiant Logistics, Inc. (NYSEMKT:RLGT). These stocks are GP Investments Acquisition Corp (NASDAQ:GPIA), INVUITY INC COM USD0.001 (NASDAQ:IVTY), StealthGas Inc. (NASDAQ:GASS), and VirnetX Holding Corporation (NYSEMKT:VHC). This group of stocks’ market valuations are similar to RLGT’s market valuation.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $33 million. That figure was $19 million in RLGT’s case. StealthGas Inc. (NASDAQ:GASS) is the most popular stock in this table. On the other hand VirnetX Holding Corporation (NYSEMKT:VHC) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Radiant Logistics, Inc. (NYSEMKT:RLGT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.