Kayne Anderson Rudnick Investment Management buys $173 Million stake in Landstar System (LSTR)

Landstar System (LSTR) : Kayne Anderson Rudnick Investment Management scooped up 374,222 additional shares in Landstar System during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,675,418 shares of Landstar System which is valued at $173 Million.Landstar System makes up approximately 2.83% of Kayne Anderson Rudnick Investment Management’s portfolio.

Other Hedge Funds, Including , First Trust Advisors Lp reduced its stake in LSTR by selling 93,645 shares or 86.13% in the most recent quarter. The Hedge Fund company now holds 15,083 shares of LSTR which is valued at $975,568. Massmutual Trust Co Fsbadv added LSTR to its portfolio by purchasing 399 company shares during the most recent quarter which is valued at $25,807.Proshare Advisors reduced its stake in LSTR by selling 7 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 4,250 shares of LSTR which is valued at $282,838.Numeric Investors boosted its stake in LSTR in the latest quarter, The investment management firm added 9,000 additional shares and now holds a total of 16,000 shares of Landstar System which is valued at $1.1 Million. Landstar System makes up approx 0.01% of Numeric Investors’s portfolio.

Landstar System opened for trading at $66.56 and hit $67.11 on the upside on Wednesday, eventually ending the session at $66.89, with a gain of 0.28% or 0.19 points. The heightened volatility saw the trading volume jump to 3,76,871 shares. Company has a market cap of $2,831 M.

On the company’s financial health, Landstar System reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.68. The company had revenue of $711.64 million for the quarter, compared to analysts expectations of $717.33 million. The company’s revenue was down -6.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Landstar System. Landstar System was Downgraded by Avondale to ” Mkt Perform” on Apr 22, 2016. Company shares were Reiterated by Cowen on Apr 21, 2016 to “Market Perform”, Firm has raised the Price Target to $ 67 from a previous price target of $63 .Shares were Downgraded by Cowen on Apr 1, 2016 to ” Market Perform” and Lowered the Price Target to $ 63 from a previous price target of $64 .

Landstar System Inc. (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes with the ability to arrange for individual shipments of freight to enterprise solutions to manage all of a customer’s transportation needs. The Company operates in two segments: the Transportation Logistics segment which provides a range of integrated transportation management solutions and the Insurance segment which provides risk and claims management services to certain of Landstar’s operating subsidiaries. Landstar provides services throughout the United States Canada Mexico and other countries around the world. The Company’s services are delivered through a network of independent commission sales agents and third-party capacity providers linked together by a series of technological applications which are provided and coordinated by the Company.

Leave a Reply

Landstar System - Is it time to Sell?

Top Brokerage Firms are advising their investors on Landstar System. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.