Rand Logistics, Inc. (NASDAQ:RLOG) Upgraded 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 report released on Tuesday, November 7th.

Shares of Rand Logistics (RLOG) opened at $0.63 on Tuesday. Rand Logistics has a 52-week low of $0.19 and a 52-week high of $1.93.

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In related news, major shareholder Brent D. Baird bought 400,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were acquired at an average cost of $0.29 per share, for a total transaction of $116,000.00. Following the acquisition, the insider now directly owns 2,602,683 shares in the company, valued at approximately $754,778.07. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brent D. Baird bought 167,242 shares of the stock in a transaction dated Friday, October 13th. The shares were bought at an average price of $0.34 per share, for a total transaction of $56,862.28. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 867,242 shares of company stock valued at $259,862. 13.10% of the stock is owned by company insiders.

An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC boosted its holdings in Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,700 shares of the shipping company’s stock after buying an additional 17,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of Rand Logistics worth $107,000 at the end of the most recent quarter. 25.64% of the stock is owned by institutional investors.

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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