Insider Selling: McGrath RentCorp Director Sells 1,394 Shares of Stock (MGRC)
McGrath RentCorp (NASDAQ:MGRC) Director William Dawson sold 1,394 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.06, for a total transaction of $48,873.64. Following the completion of the transaction, the director now directly owns 9,900 shares of the company’s stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, August 2nd. They now have a $31.50 price target on the stock.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded down 0.45% during mid-day trading on Friday, hitting $35.06. 27,667 shares of the company’s stock traded hands. McGrath RentCorp has a 52-week low of $24.38 and a 52-week high of $36.10. The stock has a 50-day moving average of $34.22 and a 200-day moving average of $32.57. The company has a market cap of $898.3 million and a price-to-earnings ratio of 20.62.
McGrath RentCorp (NASDAQ:MGRC) last released its earnings data on Wednesday, July 31st. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.46 by $0.08. The company had revenue of $87.13 million for the quarter, compared to the consensus estimate of $86.86 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.
McGrath RentCorp (NASDAQ:MGRC) is a diversified business to business rental company.
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