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

McGrath RentCorp (NASDAQ:MGRC) VP Gilda Malek sold 919 shares of McGrath RentCorp stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

McGrath RentCorp Stock Performance

MGRC traded down $0.28 during trading on Wednesday, reaching $119.81. 124,264 shares of the company traded hands, compared to its average volume of 237,120. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86. The firm has a fifty day simple moving average of $115.06 and a 200 day simple moving average of $109.31. The company has a market cap of $2.94 billion, a P/E ratio of 13.12, a PEG ratio of 1.71 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.39 by $0.48. The business had revenue of $266.76 million during 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%. McGrath RentCorp’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. As a group, sell-side analysts expect that McGrath RentCorp will post 5.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGRC. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their target price 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. Finally, CJS Securities began coverage on shares of McGrath RentCorp in a research note on Wednesday. They issued an “outperform” rating and a $152.00 target price on the stock.

Institutional Trading of McGrath RentCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGRC. KBC Group NV raised its position in McGrath RentCorp by 32.5% in the 3rd quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 188 shares during the period. Covestor Ltd grew its stake in McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 161 shares in the last quarter. Millburn Ridgefield Corp bought a new position in McGrath RentCorp in the 3rd quarter worth about $203,000. Wealth Enhancement Advisory Services LLC grew its stake in McGrath RentCorp by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 104 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in McGrath RentCorp in the 3rd quarter worth about $238,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

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.