Rand Logistics, Inc. (NASDAQ:RLOG) shares shot up 23.5% on Friday . The stock traded as high as $0.72 and last traded at $0.63. 4,148,516 shares were traded during trading, an increase of 303% from the average session volume of 1,028,760 shares. The stock had previously closed at $0.51.
Separately, ValuEngine downgraded shares of Rand Logistics from a “sell” rating to a “strong sell” rating in a research report on Thursday.
In other Rand Logistics news, major shareholder Brent D. Baird acquired 400,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was bought at an average price of $0.29 per share, with a total value of $116,000.00. Following the purchase, the insider now owns 2,602,683 shares in the company, valued at $754,778.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Brent D. Baird acquired 167,242 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were acquired at an average cost of $0.34 per share, with a total value of $56,862.28. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 867,242 shares of company stock valued at $259,862. 13.10% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC boosted its holdings in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,700 shares of the shipping company’s stock after acquiring an additional 17,100 shares during the period. Renaissance Technologies LLC owned 0.90% of Rand Logistics worth $107,000 at the end of the most recent reporting period. 31.56% of the stock is currently owned by institutional investors and hedge funds.
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Rand Logistics Company Profile
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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