Insider Selling: McGrath RentCorp (MGRC) VP Sells 3,400 Shares of Stock
McGrath RentCorp (NASDAQ:MGRC) VP Trease Kristina Van sold 3,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.61, for a total transaction of $134,674.00. Following the completion of the sale, the vice president now owns 15,030 shares in the company, valued at approximately $595,338.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Trease Kristina Van also recently made the following trade(s):
- On Tuesday, September 5th, Trease Kristina Van sold 1,043 shares of McGrath RentCorp stock. The shares were sold at an average price of $39.82, for a total transaction of $41,532.26.
McGrath RentCorp (NASDAQ MGRC) traded up 2.01% on Friday, hitting $41.16. 68,110 shares of the company were exchanged. The stock has a 50 day moving average price of $38.09 and a 200 day moving average price of $35.26. The firm has a market cap of $987.55 million, a price-to-earnings ratio of 23.53 and a beta of 0.96. McGrath RentCorp has a one year low of $29.26 and a one year high of $41.61.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. The firm had revenue of $109.58 million for the quarter, compared to analyst estimates of $105.36 million. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts forecast that McGrath RentCorp will post $1.88 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the business. Kennedy Capital Management Inc. raised its stake in shares of McGrath RentCorp by 130.5% in the first quarter. Kennedy Capital Management Inc. now owns 97,030 shares of the financial services provider’s stock worth $3,257,000 after acquiring an additional 54,929 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of McGrath RentCorp by 16.4% in the first quarter. AQR Capital Management LLC now owns 99,768 shares of the financial services provider’s stock worth $3,349,000 after acquiring an additional 14,031 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of McGrath RentCorp by 55.0% in the first quarter. Prudential Financial Inc. now owns 58,036 shares of the financial services provider’s stock worth $1,949,000 after acquiring an additional 20,600 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of McGrath RentCorp by 1.3% in the first quarter. JPMorgan Chase & Co. now owns 40,743 shares of the financial services provider’s stock worth $1,368,000 after acquiring an additional 509 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in shares of McGrath RentCorp in the second quarter worth about $3,858,000. Hedge funds and other institutional investors own 82.54% of the company’s stock.
Several equities research analysts have commented on MGRC shares. Zacks Investment Research lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. BidaskClub lowered shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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