Oppenheimer & Co. Inc. Buys New Holdings in General Finance Co. (GFN)
Oppenheimer & Co. Inc. bought a new position in General Finance Co. (NASDAQ:GFN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,324 shares of the business services provider’s stock, valued at approximately $324,000. Oppenheimer & Co. Inc. owned approximately 0.07% of General Finance as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in General Finance during the second quarter valued at $162,000. Russell Investments Group Ltd. purchased a new stake in General Finance during the second quarter valued at $206,000. Schwab Charles Investment Management Inc. bought a new position in General Finance during the second quarter valued at $244,000. Bank of New York Mellon Corp bought a new position in General Finance during the second quarter valued at $325,000. Finally, Spark Investment Management LLC increased its position in General Finance by 137.3% during the second quarter. Spark Investment Management LLC now owns 26,100 shares of the business services provider’s stock valued at $353,000 after acquiring an additional 15,100 shares during the last quarter. 20.92% of the stock is currently owned by hedge funds and other institutional investors.
GFN stock opened at $15.12 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.12 and a debt-to-equity ratio of 4.20. General Finance Co. has a twelve month low of $5.25 and a twelve month high of $16.15. The firm has a market cap of $447.89 million, a price-to-earnings ratio of 252.00, a PEG ratio of 5.85 and a beta of 1.33.
Separately, Zacks Investment Research upgraded shares of General Finance from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Friday, September 7th.
In related news, major shareholder Ronald L. Havner, Jr. purchased 38,500 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were purchased at an average cost of $13.73 per share, for a total transaction of $528,605.00. Following the completion of the acquisition, the insider now owns 691,795 shares in the company, valued at approximately $9,498,345.35. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Neil Gagnon sold 21,192 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $14.00, for a total transaction of $296,688.00. Following the completion of the transaction, the insider now owns 691,795 shares in the company, valued at $9,685,130. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 106,765 shares of company stock worth $1,459,200 and have sold 233,818 shares worth $3,353,946. Insiders own 23.00% of the company’s stock.
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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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