Rand Logistics, Inc. (RLOG) Short Interest Down 79.9% in October
Rand Logistics, Inc. (NASDAQ:RLOG) was the target of a significant decline in short interest during the month of October. As of October 13th, there was short interest totalling 120,844 shares, a decline of 79.9% from the September 29th total of 600,261 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 303,205 shares, the short-interest ratio is currently 0.4 days.
In other Rand Logistics news, major shareholder Brent D. Baird purchased 350,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $0.29 per share, for a total transaction of $101,500.00. Following the completion of the purchase, the insider now owns 2,252,683 shares of the company’s stock, valued at $653,278.07. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Brent D. Baird purchased 400,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were acquired at an average price of $0.29 per share, for a total transaction of $116,000.00. Following the purchase, the insider now directly owns 2,602,683 shares of the company’s stock, valued at approximately $754,778.07. The disclosure for this purchase can be found here. Insiders have bought 1,526,702 shares of company stock worth $451,106 in the last 90 days. Insiders own 13.10% of the company’s stock.
A hedge fund recently raised its stake in Rand Logistics stock. Renaissance Technologies LLC grew its holdings in Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 166,700 shares of the shipping company’s stock after acquiring an additional 17,100 shares during the quarter. Renaissance Technologies LLC owned about 0.90% of Rand Logistics worth $107,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 31.09% of the company’s stock.
Rand Logistics (NASDAQ:RLOG) last released its quarterly earnings data on Monday, August 14th. The shipping company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.41). Rand Logistics had a negative net margin of 15.81% and a negative return on equity of 1,248.93%. The business had revenue of $32.34 million during the quarter. Equities analysts anticipate that Rand Logistics will post ($0.18) earnings per share for the current fiscal year.
WARNING: “Rand Logistics, Inc. (RLOG) Short Interest Down 79.9% in October” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/28/rand-logistics-inc-rlog-short-interest-down-79-9-in-october.html.
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).
Receive News & Ratings for Rand Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rand Logistics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.