Convergence Investment Partners LLC Invests $1.37 Million in CAI International, Inc. (CAI)

Convergence Investment Partners LLC purchased a new stake in shares of CAI International, Inc. (NYSE:CAI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 45,230 shares of the transportation company’s stock, valued at approximately $1,371,000. Convergence Investment Partners LLC owned about 0.23% of CAI International at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quotient Investors LLC acquired a new stake in CAI International in the 3rd quarter worth approximately $224,000. Brandywine Global Investment Management LLC lifted its holdings in CAI International by 41.1% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 10,204 shares of the transportation company’s stock worth $241,000 after purchasing an additional 2,974 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in CAI International in the 2nd quarter worth approximately $248,000. Voya Investment Management LLC acquired a new stake in CAI International in the 2nd quarter worth approximately $253,000. Finally, Citadel Advisors LLC lifted its holdings in CAI International by 3.2% in the 2nd quarter. Citadel Advisors LLC now owns 11,245 shares of the transportation company’s stock worth $265,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 69.10% of the company’s stock.

CAI International, Inc. (NYSE CAI) opened at $31.64 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.91. The company has a market capitalization of $622.94, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.53 and a beta of 2.25. CAI International, Inc. has a 1 year low of $8.41 and a 1 year high of $40.11.

CAI International (NYSE:CAI) last issued its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The company had revenue of $90.16 million for the quarter, compared to the consensus estimate 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 for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. equities analysts anticipate that CAI International, Inc. will post 2.64 earnings per share for the current year.

Several equities research analysts recently weighed in on CAI shares. Zacks Investment Research upgraded CAI International from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, October 19th. Wells Fargo & Company boosted their target price on CAI International from $26.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Cowen restated a “hold” rating and issued a $28.00 target price on shares of CAI International in a report on Wednesday, October 4th. ValuEngine lowered CAI International from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Finally, William Blair restated an “outperform” rating on shares of CAI International in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CAI International presently has a consensus rating of “Buy” and an average target price of $35.80.

In other CAI International news, Director Hiromitsu Ogawa sold 693,927 shares of CAI International stock in a transaction that occurred 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 directly owns 712,433 shares of the company’s stock, valued at approximately $18,950,717.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Timothy B. Page sold 11,405 shares of CAI International stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $35.93, for a total value of $409,781.65. Following the completion of the transaction, the chief financial officer now directly owns 10,184 shares in the company, valued at $365,911.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 791,214 shares of company stock worth $22,015,109. Company insiders own 24.50% of the company’s stock.

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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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Institutional Ownership by Quarter for CAI International (NYSE:CAI)

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