Algert Global LLC lowered its stake in CAI International, Inc. (NYSE:CAI) by 76.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,040 shares of the transportation company’s stock after selling 36,630 shares during the period. Algert Global LLC owned approximately 0.06% of CAI International worth $618,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAI. Magnetar Financial LLC purchased a new position in shares of CAI International in the second quarter worth about $71,231,000. Versor Investments LP purchased a new position in shares of CAI International in the second quarter worth about $49,906,000. Water Island Capital LLC purchased a new position in shares of CAI International in the second quarter worth about $25,873,000. Alliancebernstein L.P. increased its holdings in shares of CAI International by 1,390.8% in the second quarter. Alliancebernstein L.P. now owns 164,857 shares of the transportation company’s stock worth $9,232,000 after buying an additional 153,799 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of CAI International by 7,954.0% in the second quarter. Citigroup Inc. now owns 103,333 shares of the transportation company’s stock worth $5,787,000 after buying an additional 102,050 shares during the period. Hedge funds and other institutional investors own 87.64% of the company’s stock.
Shares of NYSE CAI traded down $0.01 during trading hours on Thursday, hitting $55.93. The company’s stock had a trading volume of 879 shares, compared to its average volume of 284,897. The business has a 50-day simple moving average of $55.91 and a 200-day simple moving average of $50.43. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a market cap of $970.83 million, a price-to-earnings ratio of 10.42 and a beta of 1.49. CAI International, Inc. has a 12 month low of $25.21 and a 12 month high of $56.22.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 27th. Shareholders of record on Friday, September 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 9th. This represents a $1.20 annualized dividend and a yield of 2.15%. CAI International’s payout ratio is 23.72%.
CAI has been the topic of several analyst reports. B. Riley downgraded CAI International from a “buy” rating to a “neutral” rating in a report on Friday, June 18th. Zacks Investment Research cut CAI International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 5th. William Blair cut CAI International from an “outperform” rating to a “market perform” rating in a research note on Friday, June 18th. Finally, Keefe, Bruyette & Woods cut CAI International from an “outperform” rating to a “market perform” rating and set a $56.00 target price on the stock. in a research note on Tuesday, June 29th.
CAI International Profile
CAI International, Inc is a transportation finance and logistics company, which engages in the provision of intermodal shipping containers. The company was founded by Hiromitsu Ogawa on August 3, 1989 and is headquartered in San Francisco, CA.
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