General Finance (GFN) Reaches New 52-Week High at $15.45

General Finance Co. (NASDAQ:GFN)’s share price hit a new 52-week high on Tuesday . The company traded as high as $15.45 and last traded at $15.40, with a volume of 1395 shares. The stock had previously closed at $15.20.

Separately, Zacks Investment Research raised General Finance from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Friday, September 7th.

The company has a debt-to-equity ratio of 4.20, a quick ratio of 1.12 and a current ratio of 1.56.

In other General Finance news, major shareholder Havner Family Trust bought 3,900 shares of the stock in a transaction on Friday, June 29th. The shares were bought at an average price of $13.53 per share, with a total value of $52,767.00. Following the purchase, the insider now directly owns 3,683,145 shares in the company, valued at approximately $49,832,951.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ronald L. Havner, Jr. bought 5,000 shares of the stock in a transaction on Friday, July 6th. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $70,000.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 192,534 shares of company stock worth $2,619,851 and sold 266,345 shares worth $3,792,132. Company insiders own 25.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in GFN. BlackRock Inc. grew its stake in General Finance by 1,611.3% during the 2nd quarter. BlackRock Inc. now owns 489,221 shares of the business services provider’s stock valued at $6,629,000 after acquiring an additional 460,633 shares in the last quarter. Renaissance Technologies LLC grew its stake in General Finance by 80.5% during the 2nd quarter. Renaissance Technologies LLC now owns 436,315 shares of the business services provider’s stock valued at $5,912,000 after acquiring an additional 194,615 shares in the last quarter. Millennium Management LLC grew its stake 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 valued at $1,089,000 after acquiring an additional 111,158 shares in the last quarter. Northern Trust Corp grew its stake in General Finance by 620.0% during the 2nd quarter. Northern Trust Corp now owns 109,121 shares of the business services provider’s stock valued at $1,479,000 after acquiring an additional 93,965 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in General Finance during the 2nd quarter valued at about $931,000. 23.15% of the stock is currently owned by institutional investors.

About General Finance (NASDAQ:GFN)

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.

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