Lord Abbett & CO. LLC trimmed its position in shares of CAI International, Inc. (NYSE:CAI) by 24.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,000 shares of the transportation company’s stock after selling 25,000 shares during the quarter. Lord Abbett & CO. LLC owned 0.41% of CAI International worth $1,864,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAI. Dimensional Fund Advisors LP boosted its stake in CAI International by 9.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,295,357 shares of the transportation company’s stock worth $20,389,000 after buying an additional 114,781 shares during the period. James Investment Research Inc. purchased a new position in CAI International during the second quarter worth $1,697,000. Royce & Associates LP boosted its stake in CAI International by 26.9% during the second quarter. Royce & Associates LP now owns 325,162 shares of the transportation company’s stock worth $7,674,000 after buying an additional 69,000 shares during the period. TIAA CREF Investment Management LLC boosted its stake in CAI International by 80.2% during the second quarter. TIAA CREF Investment Management LLC now owns 141,547 shares of the transportation company’s stock worth $3,341,000 after buying an additional 62,988 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in CAI International during the first quarter worth $927,000. 58.27% of the stock is owned by institutional investors.
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In other news, Director David G. Remington sold 11,724 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $37.50, for a total transaction of $439,650.00. Following the completion of the transaction, the director now directly owns 13,041 shares in the company, valued at approximately $489,037.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hiromitsu Ogawa sold 693,927 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $26.60, for a total value of $18,458,458.20. Following the transaction, the director now owns 712,433 shares of the company’s stock, valued at $18,950,717.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 729,037 shares of company stock valued at $19,767,600. Company insiders own 24.50% of the company’s stock.
Several research firms have commented on CAI. TheStreet raised shares of CAI International from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Cowen and Company lifted their price objective on shares of CAI International from $23.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. ValuEngine raised shares of CAI International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $40.00 price objective on shares of CAI International in a research note on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 price objective on shares of CAI International in a research note on Friday, July 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. CAI International currently has a consensus rating of “Buy” and a consensus price target of $35.80.
CAI International (NYSE:CAI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.20. The business had revenue of $90.16 million during the quarter, compared to analysts’ expectations of $89.43 million. CAI International had a return on equity of 7.11% and a net margin of 10.93%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS.
About CAI International
CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers, and also manages equipment for third-party investors. The Company operates through three segments: container leasing, rail leasing and logistics.
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