Renaissance Technologies LLC boosted its position in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the first 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 purchasing an additional 17,100 shares during the period. Renaissance Technologies LLC owned about 0.90% of Rand Logistics worth $107,000 at the end of the most recent reporting period.
Separately, Emancipation Management LLC boosted its stake in shares of Rand Logistics by 316.4% during the 1st quarter. Emancipation Management LLC now owns 721,966 shares of the shipping company’s stock worth $462,000 after buying an additional 548,601 shares during the last quarter. Institutional investors and hedge funds own 31.12% of the company’s stock.
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In related news, major shareholder Brent D. Baird bought 309,460 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $0.29 per share, for a total transaction of $89,743.40. Following the completion of the purchase, the insider now directly owns 1,943,223 shares in the company, valued at $563,534.67. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Brent D. Baird bought 300,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was bought at an average price of $0.29 per share, for a total transaction of $87,000.00. Following the completion of the purchase, the insider now owns 2,952,683 shares of the company’s stock, valued at $856,278.07. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,359,460 shares of company stock valued at $394,243. 13.10% of the stock is currently owned by insiders.
Rand Logistics, Inc. (NASDAQ:RLOG) opened at 0.2893 on Friday. The stock’s 50 day moving average is $0.28 and its 200-day moving average is $0.48. The firm’s market capitalization is $5.39 million. Rand Logistics, Inc. has a 1-year low of $0.19 and a 1-year high of $2.95.
Rand Logistics (NASDAQ:RLOG) last posted its earnings results on Monday, August 14th. The shipping company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.41). The business 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%. Analysts forecast that Rand Logistics, Inc. will post ($0.18) EPS for the current year.
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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