McGrath RentCorp (NASDAQ:MGRC) VP Philip B. Hawkins sold 5,101 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $63.41, for a total value of $323,454.41. Following the completion of the sale, the vice president now owns 196 shares in the company, valued at approximately $12,428.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
MGRC stock traded down $0.69 during trading on Friday, reaching $56.23. 56,801 shares of the stock were exchanged, compared to its average volume of 103,492. McGrath RentCorp has a twelve month low of $45.85 and a twelve month high of $68.79. The company has a market cap of $1.36 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.67 and a beta of 0.73.
McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. McGrath RentCorp had a return on equity of 14.86% and a net margin of 16.18%. The business had revenue of $122.00 million for the quarter, compared to the consensus estimate of $113.87 million. During the same period in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts predict that McGrath RentCorp will post 3.4 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Cutler Group LP bought a new stake in McGrath RentCorp during the 4th quarter worth approximately $25,000. FMR LLC grew its holdings in shares of McGrath RentCorp by 186.6% in the fourth quarter. FMR LLC now owns 917 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 597 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of McGrath RentCorp in the first quarter valued at approximately $62,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $124,000. Finally, Advisor Group Inc. grew its holdings in shares of McGrath RentCorp by 16.5% in the fourth quarter. Advisor Group Inc. now owns 2,600 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 369 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was originally reported by Rockland Register and is the sole property of of Rockland Register. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://rocklandregister.com/2019/05/31/insider-selling-mcgrath-rentcorp-mgrc-vp-sells-323454-41-in-stock.html.
McGrath RentCorp Company Profile
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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
Further Reading: How to calculate the annual rate of depreciation
Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.