Renaissance Technologies LLC grew its position in shares of General Finance Co. (NASDAQ:GFN) by 80.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436,315 shares of the business services provider’s stock after purchasing an additional 194,615 shares during the period. Renaissance Technologies LLC owned about 1.63% of General Finance worth $5,912,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GFN. Millennium Management LLC raised its holdings in General Finance by 285.0% during the 1st quarter. Millennium Management LLC now owns 150,161 shares of the business services provider’s stock worth $1,089,000 after buying an additional 111,158 shares during the period. Acadian Asset Management LLC increased its holdings in shares of General Finance by 218.0% in the 2nd quarter. Acadian Asset Management LLC now owns 47,646 shares of the business services provider’s stock valued at $646,000 after purchasing an additional 32,662 shares during the period. Virtu Financial LLC acquired a new position in shares of General Finance in the 2nd quarter valued at about $162,000. EAM Investors LLC acquired a new position in shares of General Finance in the 2nd quarter valued at about $931,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of General Finance in the 2nd quarter valued at about $325,000. 20.72% of the stock is owned by hedge funds and other institutional investors.
In other General Finance news, major shareholder Havner Family Trust bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were bought at an average price of $13.24 per share, for a total transaction of $132,400.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Neil Gagnon sold 102,869 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $14.25, for a total value of $1,465,883.25. Following the completion of the transaction, the insider now owns 639,306 shares in the company, valued at approximately $9,110,110.50. The disclosure for this sale can be found here. In the last quarter, insiders bought 168,634 shares of company stock worth $2,289,585 and sold 274,941 shares worth $3,929,668. 25.90% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research upgraded General Finance from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Thursday, July 5th.
Shares of GFN opened at $14.37 on Friday. The stock has a market capitalization of $481.83 million, a PE ratio of 239.50, a price-to-earnings-growth ratio of 6.30 and a beta of 1.16. General Finance Co. has a fifty-two week low of $5.15 and a fifty-two week high of $16.15. The company has a debt-to-equity ratio of 4.20, a quick ratio of 1.12 and a current ratio of 1.56.
General Finance Company Profile
General Finance Corporation, a specialty rental services company, provides portable storage, modular space, and liquid containment solutions in North America and the Asia-Pacific regions. Its portable storage products include storage containers used in classroom equipment storage, construction equipment and tool storage, disaster shelters, landscaping sheds, recreational equipment storage, and retail inventory storage applications; and freight containers used in freight transportation by road and rail.
Want to see what other hedge funds are holding GFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Finance Co. (NASDAQ:GFN).
Receive News & Ratings for General Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Finance and related companies with MarketBeat.com's FREE daily email newsletter.