Five Stocks Among Wednesday’s Top Gainers; What Sparked Their Jump?

Page 2 of 2

Generac Holdings Inc. (NYSE:GNRC)‘s stock is up 11% on the back of its third quarter earnings, which came above estimates on both the top and bottom lines. The company posted earnings of $0.92 per share, above estimates of $0.79, and revenue of $359.30 million, compared to expectations of $335.90 million. However, despite the strong third quarter results, Generac Holdings Inc. (NYSE:GNRC)’s stock is down by around 36% year-to-date and the company has yet to win the confidence of many smart money investors. So far, just 15 funds from our database reported stakes in the company, equal to 2.30% of its outstanding stock as of the end of June.

Follow Generac Holdings Inc. (NYSE:GNRC)

Finally, Cabelas Inc (NYSE:CAB) has received a huge boost today after billionaire Paul Singer‘s Elliott Management revealed taking an 11.1% activist stake in the company.

“[…] in light of the robust environment for private equity investment in retail companies, potential strategic interest in the Issuer, and the Issuer’s substantial asset holdings, there exist multiple pathways for the Issuer to unlock significant unrealized value,” Elliott said in its filing with the SEC.

In this way, Elliott plans to engage in dialogue with Cabelas Inc (NYSE:CAB)’s board of directors and seek opportunities to increase shareholder value through strategic alternatives, such as a sale of the company, asset monetization, capital allocation and capital structure optimization.

Moreover, during the second quarter, the number of investors bullish on Cabelas Inc (NYSE:CAB) among those we track went up by seven to 29, while in aggregate they held around 13% of the company’s outstanding stock at the end of June. Billionaire Ken Fisher’s Fisher Asset Management reported ownership of some 1.10 million shares as of the end of September.

Follow Cabelas Inc (NYSE:CAB)

Disclosure: None

Page 2 of 2