Landstar System ($LSTR) CEO Frank Lonegro purchased approximately $715,000 of company stock on October 30, two days after shares fell roughly 17% following quarterly earnings. The purchase, disclosed November 2, is the first insider buy shown in the available trading history since March 2022.
- Lonegro purchased 5,000 shares at a weighted average price of $142.9238, spending $714,619.
- The transaction increased his directly held shares to 28,110, approximately 22% above his previous holdings.
- The last previous purchase was director Homaira Akbari’s acquisition of 500 shares on March 15, 2022.
- Landstar’s October 27 earnings report showed third-quarter revenue increased 25% year over year to $1.512 billion.
- Earnings of $1.42 per share fell below the $1.67 analyst estimate reported by TheStreet.
- Insurance and claims costs rose to $55.3 million from $33 million a year earlier, including $13 million in reserve adjustments and $8 million related to prior-year accident settlements.
Relevant Companies
- Landstar System ($LSTR): CEO increased his holdings following the earnings-related selloff.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
