Capital Fund Management S.A. acquired a new position in Landstar System Inc. (NASDAQ:LSTR) during the second quarter, Holdings Channel reports. The fund acquired 48,704 shares of the company’s stock, valued at approximately $3,344,000.
Other hedge funds have also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in shares of Landstar System by 69.8% in the second quarter. LS Investment Advisors LLC now owns 2,589 shares of the company’s stock worth $178,000 after buying an additional 1,064 shares during the period. Parametrica Management Ltd purchased a new stake in shares of Landstar System during the second quarter worth about $255,000. Hollencrest Securities LLC boosted its stake in shares of Landstar System by 0.7% in the second quarter. Hollencrest Securities LLC now owns 4,062 shares of the company’s stock worth $279,000 after buying an additional 28 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Landstar System during the first quarter worth about $292,000. Finally, Toth Financial Advisory Corp purchased a new stake in shares of Landstar System during the second quarter worth about $412,000.
Landstar System Inc. (NASDAQ:LSTR) traded up 0.38% during trading on Monday, reaching $68.34. 390,637 shares of the company’s stock traded hands. The firm has a market capitalization of $2.88 billion, a PE ratio of 21.12 and a beta of 0.80. Landstar System Inc. has a one year low of $53.03 and a one year high of $72.97. The company has a 50-day moving average price of $68.01 and a 200 day moving average price of $67.39.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.05. The firm had revenue of $775 million for the quarter, compared to analysts’ expectations of $790.95 million. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. Landstar System’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. On average, analysts anticipate that Landstar System Inc. will post $3.08 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Citigroup Inc. cut shares of Landstar System to a “market perform” rating in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.66.
In other news, CMO Patrick J. O’malley sold 1,787 shares of Landstar System stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total transaction of $123,606.79. Following the completion of the transaction, the chief marketing officer now directly owns 40,237 shares of the company’s stock, valued at approximately $2,783,193.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.
About Landstar System
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 customer’s transportation needs.
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