Hatteras Funds Lowers stake in AMERCO (UHAL)

AMERCO (UHAL) : Hatteras Funds reduced its stake in AMERCO by 38.28% during the most recent quarter end. The investment management company now holds a total of 4,555 shares of AMERCO which is valued at $1,585,049 after selling 2,825 shares in AMERCO , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AMERCO makes up approximately 4.11% of Hatteras Funds’s portfolio.

Other Hedge Funds, Including , Zacks Investment Management added UHAL to its portfolio by purchasing 540 company shares during the most recent quarter which is valued at $187,909. AMERCO makes up approx 0.01% of Zacks Investment Management’s portfolio.Jefferies Group reduced its stake in UHAL by selling 1 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 1,781 shares of UHAL which is valued at $619,752. AMERCO makes up approx 0.02% of Jefferies Group’s portfolio.New York State Common Retirement Fund reduced its stake in UHAL by selling 900 shares or 3.32% in the most recent quarter. The Hedge Fund company now holds 26,200 shares of UHAL which is valued at $9,117,076. AMERCO makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Vanguard Group Inc boosted its stake in UHAL in the latest quarter, The investment management firm added 16,571 additional shares and now holds a total of 426,056 shares of AMERCO which is valued at $148,258,967. AMERCO makes up approx 0.01% of Vanguard Group Inc’s portfolio.

AMERCO opened for trading at $345.16 and hit $346.84 on the upside on Thursday, eventually ending the session at $344.72, with a gain of 0.29% or 1.01 points. The heightened volatility saw the trading volume jump to 54,826 shares. Company has a market cap of $6,759 M.

On the company’s financial health, AMERCO reported $7.51 EPS for the quarter, missing the analyst consensus estimate by $ -1.21 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $8.72. The company had revenue of $923.40 million for the quarter, compared to analysts expectations of $941.32 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.74 EPS.

Many Wall Street Analysts have commented on AMERCO. AMERCO was Downgraded by CL King to ” Buy” on Aug 5, 2016.

AMERCO is a do-it-yourself moving and storage operator through its subsidiary U-Haul International Inc. (U-Haul). The Company supplies products and services to help people move and store their household and commercial goods. It operates through three segments: Moving and Storage Property and Casualty Insurance and Life Insurance. The Moving and Storage segment consists of AMERCO U-Haul and Real Estate and the subsidiaries of U-Haul and Real Estate. It consists of the rental of trucks trailers portable moving and storage unit specialty rental items and self-storage spaces primarily to the household mover and sales of moving supplies towing accessories and propane. The Property and Casualty Insurance segment consists of Repwest and its subsidiaries and ARCOA. It provides loss adjusting and claims handling for U-Haul through regional offices across North America. The Life Insurance segment consists of Oxford and its subsidiaries and provides life and health insurance products.

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