General Finance Corporation (GFN) Announces Earnings Results, Meets Expectations
General Finance Corporation (NASDAQ:GFN) issued its quarterly earnings results on Wednesday. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07), Bloomberg Earnings reports. General Finance Corporation had a negative return on equity of 1.76% and a negative net margin of 1.81%.
Shares of General Finance Corporation (GFN) remained flat at $4.75 during mid-day trading on Wednesday. The company’s stock had a trading volume of 7,322 shares. The firm’s market capitalization is $125.59 million. The company has a 50-day moving average price of $4.77 and a 200-day moving average price of $4.95. General Finance Corporation has a 1-year low of $4.00 and a 1-year high of $5.90.
GFN has been the subject of a number of analyst reports. Zacks Investment Research downgraded General Finance Corporation from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. ValuEngine upgraded General Finance Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.
In other General Finance Corporation news, major shareholder Neil Gagnon sold 24,832 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $5.03, for a total value of $124,904.96. Following the completion of the sale, the insider now directly owns 963,102 shares in the company, valued at approximately $4,844,403.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 25.80% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Gagnon Securities LLC purchased a new stake in General Finance Corporation in the 2nd quarter valued at $10,892,000. Renaissance Technologies LLC grew its holdings in 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 valued at $183,000 after buying an additional 7,276 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in General Finance Corporation by 6.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,300 shares of the business services provider’s stock valued at $161,000 after buying an additional 1,900 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in General Finance Corporation in the 2nd quarter valued at $134,000. Institutional investors own 19.23% of the company’s stock.
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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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