Rand Logistics, Inc. (RLOG) Shares Gap Down to $0.58

Rand Logistics, Inc. (NASDAQ:RLOG) shares gapped down before the market opened on Thursday . The stock had previously closed at $0.69, but opened at $0.58. Rand Logistics shares last traded at $0.37, with a volume of 8328100 shares.

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 news, major shareholder Brent D. Baird purchased 300,000 shares of the 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 acquisition, the insider now directly owns 2,952,683 shares of the company’s stock, valued at approximately $856,278.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Brent D. Baird purchased 167,242 shares of the stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $0.34 per share, with a total value of $56,862.28. The disclosure for this purchase can be found here. Insiders own 13.10% of the company’s stock.

An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC lifted its stake in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.90% of Rand Logistics worth $107,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 25.64% 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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