Atika Capital Management LLC Takes $5.19 Million Position in Generac Holdings Inc. $GNRC

Atika Capital Management LLC bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,000 shares of the technology company’s stock, valued at approximately $5,189,000. Atika Capital Management LLC owned approximately 0.05% of Generac as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB grew its holdings in Generac by 21.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 331 shares of the technology company’s stock valued at $55,000 after buying an additional 59 shares in the last quarter. Sentry Investment Management LLC grew its position in Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Beacon Investment Advisors LLC increased its stake in Generac by 0.3% during the second quarter. Beacon Investment Advisors LLC now owns 26,226 shares of the technology company’s stock worth $3,735,000 after acquiring an additional 70 shares during the last quarter. ORG Partners LLC raised its position in Generac by 24.7% during the third quarter. ORG Partners LLC now owns 369 shares of the technology company’s stock valued at $62,000 after purchasing an additional 73 shares during the period. Finally, Argent Trust Co lifted its stake in shares of Generac by 2.3% in the 3rd quarter. Argent Trust Co now owns 3,272 shares of the technology company’s stock valued at $548,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the topic of several analyst reports. Bank of America cut their target price on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Stifel Nicolaus set a $235.00 price objective on shares of Generac in a research note on Thursday, February 12th. Needham & Company LLC initiated coverage on shares of Generac in a research report on Monday, January 12th. They set a “buy” rating and a $211.00 price objective on the stock. Roth Mkm reissued a “neutral” rating and issued a $220.00 target price on shares of Generac in a research note on Thursday, February 12th. Finally, Canaccord Genuity Group set a $275.00 target price on shares of Generac in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.19.

Generac Price Performance

Shares of GNRC stock opened at $212.60 on Thursday. The stock has a 50 day moving average price of $188.62 and a 200 day moving average price of $174.23. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $241.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The firm has a market capitalization of $12.48 billion, a P/E ratio of 79.33, a P/E/G ratio of 1.53 and a beta of 1.74.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.