Rand Logistics (RLOG) Trading Down 9.5%

Shares of Rand Logistics, Inc. (NASDAQ:RLOG) fell 9.5% during trading on Tuesday . The company traded as low as $0.19 and last traded at $0.19. 1,087,288 shares were traded during trading, a decline of 9% from the average session volume of 1,192,571 shares. The stock had previously closed at $0.21.

Separately, ValuEngine cut shares of Rand Logistics from a “sell” rating to a “strong sell” rating in a report on Thursday, November 16th.

In other Rand Logistics news, major shareholder Brent D. Baird bought 167,242 shares of Rand Logistics stock in a transaction on Friday, October 13th. The stock was acquired at an average cost of $0.34 per share, with a total value of $56,862.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Brent D. Baird bought 300,000 shares of Rand Logistics stock in a transaction on Thursday, September 21st. The shares were acquired at an average cost of $0.29 per share, with a total value of $87,000.00. Following the completion of the acquisition, the insider now owns 2,952,683 shares of the company’s stock, valued at approximately $856,278.07. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,517,232 shares of company stock valued at $406,808. 13.10% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC lifted its position in Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 20.36% of the company’s stock.

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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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