Crestline Management LP Invests $764,000 in Landstar System, Inc. (NASDAQ:LSTR)

Crestline Management LP purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,447 shares of the transportation company’s stock, valued at approximately $764,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Landstar System in the 4th quarter valued at about $25,000. HM Payson & Co. bought a new position in Landstar System in the fourth quarter valued at approximately $26,000. Trust Co. of Vermont acquired a new stake in Landstar System during the 4th quarter worth $34,000. Transce3nd LLC bought a new stake in shares of Landstar System during the 4th quarter valued at $60,000. Finally, BOKF NA lifted its stake in shares of Landstar System by 56.1% in the 4th quarter. BOKF NA now owns 348 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 125 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Down 0.4 %

NASDAQ:LSTR opened at $135.56 on Friday. The stock has a 50-day simple moving average of $142.68 and a 200 day simple moving average of $163.46. Landstar System, Inc. has a 52-week low of $128.99 and a 52-week high of $196.86. The company has a market cap of $4.74 billion, a PE ratio of 24.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a report on Friday, April 11th. Susquehanna cut their price target on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Benchmark restated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Truist Financial cut their target price on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Finally, TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $155.67.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.