O Shaughnessy Asset Management LLC increased its holdings in shares of General Finance Co. (NASDAQ:GFN) by 33.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,720 shares of the business services provider’s stock after acquiring an additional 8,017 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.10% of General Finance worth $506,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Virtu Financial LLC bought a new stake in General Finance in the 2nd quarter valued at $162,000. Russell Investments Group Ltd. bought a new stake in General Finance in the 2nd quarter valued at $206,000. Schwab Charles Investment Management Inc. bought a new stake in General Finance in the 2nd quarter valued at $244,000. Oppenheimer & Co. Inc. bought a new stake in General Finance in the 3rd quarter valued at $324,000. Finally, Bank of New York Mellon Corp bought a new stake in General Finance in the 2nd quarter valued at $325,000. 21.00% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded General Finance from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research note on Friday, September 7th.
General Finance (NASDAQ:GFN) last released its earnings results on Tuesday, November 6th. The business services provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. The firm had revenue of $97.79 million during the quarter, compared to the consensus estimate of $86.10 million. General Finance had a positive return on equity of 4.81% and a negative net margin of 2.29%. On average, research analysts expect that General Finance Co. will post 0.42 earnings per share for the current year.
In other news, major shareholder Neil Gagnon sold 102,869 shares of the company’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $14.25, for a total transaction of $1,465,883.25. Following the completion of the sale, the insider now directly owns 639,306 shares in the company, valued at approximately $9,110,110.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Theodore M. Mourouzis sold 8,596 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $16.00, for a total value of $137,536.00. Following the sale, the insider now owns 469,868 shares of the company’s stock, valued at $7,517,888. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 43,170 shares of company stock valued at $592,248 and have sold 233,818 shares valued at $3,353,946. Corporate insiders own 23.00% of the company’s stock.
About General Finance
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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