McGrath RentCorp (MGRC) Upgraded at BidaskClub
McGrath RentCorp (NASDAQ:MGRC) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
MGRC has been the subject of several other research reports. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Friday, November 3rd. Oppenheimer reaffirmed a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st. Finally, ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
McGrath RentCorp (NASDAQ:MGRC) traded down $0.10 during midday trading on Friday, hitting $48.91. The company had a trading volume of 50,160 shares, compared to its average volume of 81,150. McGrath RentCorp has a fifty-two week low of $32.09 and a fifty-two week high of $49.66. The firm has a market cap of $1,162.19, a PE ratio of 25.74, a PEG ratio of 2.17 and a beta of 1.02.
In other McGrath RentCorp news, Director William J. Dawson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.83, for a total value of $191,320.00. Following the completion of the transaction, the director now owns 15,543 shares of the company’s stock, valued at approximately $743,421.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Keith E. Pratt sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.01, for a total value of $64,966.12. Following the completion of the transaction, the chief financial officer now directly owns 28,118 shares of the company’s stock, valued at approximately $1,293,709.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,159 shares of company stock valued at $628,935. Insiders own 4.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MGRC. Chartwell Investment Partners LLC raised its holdings in McGrath RentCorp by 94.2% in the 3rd quarter. Chartwell Investment Partners LLC now owns 216,385 shares of the financial services provider’s stock valued at $9,466,000 after acquiring an additional 104,973 shares in the last quarter. HCSF Management LLC raised its holdings in shares of McGrath RentCorp by 36.9% in the 2nd quarter. HCSF Management LLC now owns 387,830 shares of the financial services provider’s stock worth $13,431,000 after buying an additional 104,610 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of McGrath RentCorp in the 3rd quarter worth approximately $1,934,000. Northern Trust Corp raised its holdings in shares of McGrath RentCorp by 8.9% in the 2nd quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock worth $17,701,000 after buying an additional 41,984 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its holdings in shares of McGrath RentCorp by 40.7% in the 2nd quarter. Kennedy Capital Management Inc. now owns 136,511 shares of the financial services provider’s stock worth $4,727,000 after buying an additional 39,481 shares in the last quarter. 82.61% of the stock is owned by hedge funds and other institutional investors.
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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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