Insider Selling: McGrath RentCorp Insider Sells 10,000 Shares of Stock (MGRC)
McGrath RentCorp (NASDAQ:MGRC) Insider Steven H. Adler sold 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $34.76, for a total transaction of $347,600.00. Following the completion of the sale, the insider now directly owns 24,184 shares of the company’s stock, valued at approximately $840,636. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded down 1.26% on Friday, hitting $34.46. 38,244 shares of the company’s stock traded hands. McGrath RentCorp has a 52 week low of $29.02 and a 52 week high of $40.10. The stock has a 50-day moving average of $33.29 and a 200-day moving average of $35.53. The company has a market cap of $891.6 million and a P/E ratio of 21.70.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.06. On average, analysts predict that McGrath RentCorp will post $1.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 31st. Shareholders of record on Thursday, July 17th will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Tuesday, July 15th.
Several analysts have recently commented on the stock. Analysts at KeyCorp upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $41.00 price target on the stock. Analysts at Zacks upgraded shares of McGrath RentCorp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 30th. They now have a $31.80 price target on the stock.
McGrath RentCorp (NASDAQ:MGRC) is a diversified business to business rental company.
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