McGrath RentCorp (NASDAQ:MGRC) VP Gilda Malek Sells 919 Shares

McGrath RentCorp (NASDAQ:MGRC) VP Gilda Malek sold 919 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

McGrath RentCorp Price Performance

MGRC stock opened at $119.81 on Thursday. The company has a fifty day moving average price of $115.37 and a 200 day moving average price of $109.38. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.48. The business had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 earnings per share. As a group, analysts anticipate that McGrath RentCorp will post 5.5 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. CJS Securities assumed coverage on shares of McGrath RentCorp in a research note on Wednesday. They set an “outperform” rating and a $152.00 price target on the stock. Finally, Oppenheimer boosted their price target on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. River Road Asset Management LLC grew its holdings in McGrath RentCorp by 68.2% in the third quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after purchasing an additional 505,817 shares during the last quarter. Franklin Resources Inc. grew its holdings in McGrath RentCorp by 57.3% in the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock valued at $119,456,000 after purchasing an additional 404,884 shares during the last quarter. Walleye Capital LLC acquired a new stake in McGrath RentCorp in the third quarter valued at $15,967,000. Clearline Capital LP acquired a new stake in McGrath RentCorp in the third quarter valued at $11,976,000. Finally, FMR LLC grew its holdings in McGrath RentCorp by 3,120.0% in the third quarter. FMR LLC now owns 116,791 shares of the financial services provider’s stock valued at $12,296,000 after purchasing an additional 113,164 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

About McGrath RentCorp

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.