Rand Logistics, Inc. (RLOG) Raised to Sell at ValuEngine
ValuEngine upgraded shares of Rand Logistics, Inc. (NASDAQ:RLOG) from a strong sell rating to a sell rating in a research note published on Tuesday.
Rand Logistics (NASDAQ:RLOG) traded up $0.06 during midday trading on Tuesday, hitting $0.71. 5,046,059 shares of the company traded hands, compared to its average volume of 978,073. Rand Logistics has a fifty-two week low of $0.19 and a fifty-two week high of $2.95.
Rand Logistics (NASDAQ:RLOG) last posted its quarterly earnings data on Monday, August 14th. The shipping company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.41). The firm had revenue of $32.34 million for the quarter. Rand Logistics had a negative return on equity of 160.74% and a negative net margin of 18.21%.
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In related news, major shareholder Brent D. Baird bought 300,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average cost of $0.29 per share, for a total transaction of $87,000.00. Following the purchase, the insider now directly owns 2,952,683 shares in the company, valued at $856,278.07. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Brent D. Baird bought 400,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $0.29 per share, with a total value of $116,000.00. Following the completion of the purchase, the insider now owns 2,602,683 shares in the company, valued at $754,778.07. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,217,242 shares of company stock valued at $361,362. 13.10% of the stock is owned by insiders.
An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC grew its holdings in Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 166,700 shares of the shipping company’s stock after buying an additional 17,100 shares during the quarter. Renaissance Technologies LLC owned 0.90% of Rand Logistics worth $107,000 as of its most recent filing with the SEC. 31.09% of the stock is owned by institutional investors.
About Rand Logistics
Rand Logistics, Inc is a shipping company that, through its operating subsidiaries, is engaged in the operation of bulk carriers on the Great Lakes. The Company’s shipping business is operated in Canada by Lower Lakes Towing Ltd. (Lower Lakes Towing) and in the United States by Lower Lakes Transportation Company (Lower Lakes Transportation).
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