NEW YORK, June 8, 2017 /PRNewswire/ --
- Radiant's revenue recognition methods have been questioned by
the SEC and Radiant's CEO was CFO at Stonepath Group, a company
that was delisted after accounting regularities emerged and later
filed for bankruptcy
- Spruce Point believes that Radiant's roll-up strategy is
non-accretive and beginning to show signs of financial strain along
with the rest of the 3rd party logistics space
- Spruce Point believes that Radiant's capital structure is
unattractive, the company has unfavorable capital management
policies, and its share price is materially overvalued relative to
peers
The research note can be found on Seeking Alpha
at https://seekingalpha.com/author/ben-axler and updates
will be posted on twitter @sprucepointcap.
Spruce Point Capital has a short position in Radiant Logistics
and stands to benefit if its share price falls.
About Spruce Point Capital
Spruce Point Capital
Management, LLC, is a fundamentally-oriented investment manager
that focuses on short-selling, value and special situation
investment opportunities.
Contact
Sean
Donohue
Spruce Point Capital Management
sean.donohue@sprucepointcap.com
212-519-9813
Spruce Point Capital Management, LLC is a member of the
Financial Industry Regulatory Authority, CRD number 288248.
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SOURCE Spruce Point Capital Management, LLC