Longboard Asset Management LP Acquires New Holdings in Ryder System, Inc. (NYSE:R)

Longboard Asset Management LP bought a new position in shares of Ryder System, Inc. (NYSE:R) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,476 shares of the transportation company’s stock, valued at approximately $232,000.

Several other institutional investors also recently modified their holdings of R. FMR LLC grew its holdings in Ryder System by 56.2% during the 3rd quarter. FMR LLC now owns 781,519 shares of the transportation company’s stock worth $113,945,000 after acquiring an additional 281,052 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ryder System by 0.8% in the third quarter. Geode Capital Management LLC now owns 722,689 shares of the transportation company’s stock worth $105,397,000 after purchasing an additional 5,860 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Ryder System by 212.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 425,614 shares of the transportation company’s stock valued at $62,055,000 after purchasing an additional 289,388 shares during the period. Charles Schwab Investment Management Inc. raised its position in Ryder System by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 398,837 shares of the transportation company’s stock worth $58,150,000 after purchasing an additional 1,946 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Ryder System by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,353 shares of the transportation company’s stock worth $21,192,000 after buying an additional 10,446 shares during the period. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ryder System

In other news, insider Thomas M. Havens sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $157.44, for a total transaction of $629,760.00. Following the completion of the sale, the insider now owns 20,504 shares in the company, valued at $3,228,149.76. The trade was a 16.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.10% of the stock is owned by corporate insiders.

Ryder System Price Performance

Ryder System stock opened at $156.08 on Tuesday. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 14.60 and a beta of 1.30. Ryder System, Inc. has a 52-week low of $106.62 and a 52-week high of $171.78. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s 50 day moving average price is $161.66 and its two-hundred day moving average price is $150.44.

Analyst Ratings Changes

R has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. StockNews.com downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price target on shares of Ryder System from $160.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.43.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.