Raymond James Financial Services Advisors Inc. grew its stake in shares of General Finance Corporation (NASDAQ:GFN) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,300 shares of the business services provider’s stock after buying an additional 1,900 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.12% of General Finance Corporation worth $161,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Gagnon Securities LLC bought a new stake in shares of General Finance Corporation in the 2nd quarter worth approximately $10,892,000. Citadel Advisors LLC bought a new stake in shares of General Finance Corporation in the 2nd quarter worth approximately $134,000. Finally, Renaissance Technologies LLC raised its holdings in shares of General Finance Corporation by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 35,972 shares of the business services provider’s stock worth $183,000 after purchasing an additional 7,276 shares in the last quarter. Institutional investors own 18.98% of the company’s stock.
Shares of General Finance Corporation (NASDAQ GFN) opened at $6.10 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 3.93. General Finance Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $6.15.
General Finance Corporation (NASDAQ:GFN) last released its earnings results on Wednesday, September 6th. The business services provider reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). General Finance Corporation had a negative net margin of 0.73% and a negative return on equity of 1.29%. The business had revenue of $73.34 million for the quarter, compared to the consensus estimate of $70.95 million. research analysts expect that General Finance Corporation will post -0.27 EPS for the current year.
In other news, Director Larry D. Tashjian bought 5,200 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were acquired at an average cost of $4.95 per share, with a total value of $25,740.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald Valenta bought 10,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was purchased at an average cost of $5.10 per share, for a total transaction of $51,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 48,302 shares of company stock worth $242,941. 25.90% of the stock is currently owned by insiders.
A number of research firms recently commented on GFN. Zacks Investment Research downgraded shares of General Finance Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of General Finance Corporation in a report on Wednesday, September 20th. TheStreet upgraded shares of General Finance Corporation from a “d” rating to a “c-” rating in a report on Wednesday, September 6th. Finally, ValuEngine upgraded shares of General Finance Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.20.
General Finance Corporation Company Profile
General Finance Corporation is a specialty rental services company. The Company offers a range of portable storage units, including its core 20-feet and 40-feet steel containers, office container, mobile office and modular space products and steel tanks. It has two geographic areas that include its four operating segments: the Asia-Pacific area, consisting of the leasing operations of Royal Wolf Holdings Limited and its Australian and New Zealand subsidiaries (Royal Wolf), and North America, consisting of the combined leasing operations of Pac-Van, Inc and its Canadian subsidiary, PV Acquisition Corp.
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