Cubist Systematic Strategies LLC Acquires 9,129 Shares of Textainer Group Holdings Limited (TGH)
Cubist Systematic Strategies LLC grew its holdings in Textainer Group Holdings Limited (NYSE:TGH) by 240.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,925 shares of the transportation company’s stock after purchasing an additional 9,129 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Textainer Group were worth $222,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential PLC bought a new position in shares of Textainer Group in the 2nd quarter valued at about $4,671,000. Mangrove Partners bought a new position in shares of Textainer Group in the 2nd quarter valued at about $1,519,000. Chicago Equity Partners LLC bought a new position in shares of Textainer Group in the 3rd quarter valued at about $1,855,000. California Public Employees Retirement System boosted its stake in shares of Textainer Group by 30.5% in the 2nd quarter. California Public Employees Retirement System now owns 47,100 shares of the transportation company’s stock valued at $683,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Textainer Group by 13.4% in the 3rd quarter. Royce & Associates LP now owns 865,190 shares of the transportation company’s stock valued at $14,838,000 after purchasing an additional 102,000 shares during the last quarter. 24.48% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on TGH. SunTrust Banks reiterated a “buy” rating and issued a $25.00 price target on shares of Textainer Group in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Textainer Group from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, October 11th. Cowen reiterated a “buy” rating and issued a $21.00 price target on shares of Textainer Group in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $22.00 price target on shares of Textainer Group in a research report on Sunday, November 19th. Finally, Wells Fargo & Co increased their price target on shares of Textainer Group from $19.00 to $22.00 and gave the company a “market perform” rating in a research report on Tuesday, November 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Textainer Group presently has an average rating of “Buy” and a consensus target price of $24.40.
Textainer Group (NYSE:TGH) last announced its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The business had revenue of $125.60 million for the quarter, compared to the consensus estimate of $122.87 million. Textainer Group had a net margin of 0.38% and a negative return on equity of 0.44%. Textainer Group’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company posted ($0.92) EPS. research analysts predict that Textainer Group Holdings Limited will post 0.33 earnings per share for the current fiscal year.
Textainer Group Company Profile
Textainer Group Holdings Limited is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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