Renaissance Technologies LLC Invests $3.74 Million in Navistar International Corporation (NAV)
Renaissance Technologies LLC purchased a new position in Navistar International Corporation (NYSE:NAV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 152,000 shares of the company’s stock, valued at approximately $3,742,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of NAV. Guggenheim Capital LLC purchased a new position in shares of Navistar International Corporation during the fourth quarter worth about $206,000. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in Navistar International Corporation during the first quarter worth approximately $299,000. Virginia Retirement Systems ET AL bought a new stake in Navistar International Corporation during the first quarter worth approximately $327,000. State of Tennessee Treasury Department bought a new stake in Navistar International Corporation during the first quarter worth approximately $369,000. Finally, Karp Capital Management Corp bought a new stake in Navistar International Corporation during the first quarter worth approximately $570,000. Institutional investors and hedge funds own 82.35% of the company’s stock.
Shares of Navistar International Corporation (NYSE:NAV) traded down 1.02% during trading on Wednesday, hitting $31.06. 93,223 shares of the company traded hands. The stock’s market cap is $3.05 billion. Navistar International Corporation has a one year low of $12.53 and a one year high of $33.46. The firm has a 50 day moving average price of $28.17 and a 200-day moving average price of $27.08.
Navistar International Corporation (NYSE:NAV) last posted its quarterly earnings results on Wednesday, June 7th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.65. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.08 billion. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. Analysts predict that Navistar International Corporation will post ($0.72) EPS for the current year.
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A number of analysts recently commented on the stock. UBS AG reissued a “neutral” rating and set a $31.00 price objective (up previously from $29.00) on shares of Navistar International Corporation in a report on Sunday, June 11th. Zacks Investment Research downgraded shares of Navistar International Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday. Piper Jaffray Companies reissued a “hold” rating and set a $27.00 price objective on shares of Navistar International Corporation in a report on Thursday, August 3rd. BidaskClub raised shares of Navistar International Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Stifel Nicolaus reissued a “hold” rating and set a $26.00 price objective (up previously from $24.00) on shares of Navistar International Corporation in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $27.29.
In related news, major shareholder Truck & Bus Gmbh Volkswagen purchased 43,501 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was acquired at an average cost of $29.25 per share, for a total transaction of $1,272,404.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have purchased 434,864 shares of company stock valued at $12,752,006. 21.80% of the stock is currently owned by corporate insiders.
About Navistar International Corporation
Navistar International Corporation is a holding company whose principal operating entities are Navistar, Inc and Navistar Financial Corporation (NFC). The Company’s segments include Truck, Parts, Global Operations (collectively, Manufacturing operations) and Financial Services, which consists of NFC and its foreign finance operations (collectively, Financial Services operations).
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