Rand Logistics (RLOG) Trading Down 10.7% After Insider Selling

Shares of Rand Logistics, Inc. (NASDAQ:RLOG) were down 10.7% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $0.25 and last traded at $0.25. Approximately 2,499,800 shares were traded during mid-day trading, an increase of 121% from the average daily volume of 1,132,158 shares. The stock had previously closed at $0.28.

Specifically, major shareholder Brent D. Baird bought 167,242 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were bought at an average price 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 through this hyperlink. Also, major shareholder Brent D. Baird bought 300,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was bought at an average cost of $0.29 per share, for a total transaction of $87,000.00. Following the transaction, the insider now directly owns 2,952,683 shares of the company’s stock, valued at $856,278.07. The disclosure for this purchase can be found here. Insiders sold 1,314,134 shares of company stock worth $360,577 in the last ninety days. 13.10% of the stock is currently owned by corporate insiders.

Separately, ValuEngine raised shares of Rand Logistics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 7th.

An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC lifted its holdings in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,700 shares of the shipping company’s stock after purchasing an additional 17,100 shares during the quarter. Renaissance Technologies LLC owned about 0.90% of Rand Logistics worth $107,000 as of its most recent filing with the SEC. 20.43% of the stock is owned by institutional investors.

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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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