GSA Capital Partners LLP Has $1.21 Million Position in McGrath RentCorp (MGRC)

Share on StockTwits

GSA Capital Partners LLP boosted its holdings in McGrath RentCorp (NASDAQ:MGRC) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,140 shares of the financial services provider’s stock after purchasing an additional 2,732 shares during the quarter. GSA Capital Partners LLP owned approximately 0.08% of McGrath RentCorp worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in McGrath RentCorp by 4.8% in the second quarter. Swiss National Bank now owns 41,900 shares of the financial services provider’s stock valued at $2,651,000 after purchasing an additional 1,900 shares during the last quarter. Mirador Capital Partners LP purchased a new position in McGrath RentCorp in the second quarter valued at about $218,000. Ausdal Financial Partners Inc. purchased a new position in McGrath RentCorp in the second quarter valued at about $202,000. American Century Companies Inc. boosted its holdings in McGrath RentCorp by 19.3% in the second quarter. American Century Companies Inc. now owns 93,794 shares of the financial services provider’s stock valued at $5,934,000 after purchasing an additional 15,192 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in McGrath RentCorp by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 193,654 shares of the financial services provider’s stock valued at $12,253,000 after purchasing an additional 10,182 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.

In other McGrath RentCorp news, VP John P. Skenesky sold 1,614 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $67.39, for a total transaction of $108,767.46. Following the sale, the vice president now owns 1,716 shares in the company, valued at $115,641.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith E. Pratt sold 2,840 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $65.52, for a total value of $186,076.80. Following the sale, the chief financial officer now owns 25,382 shares in the company, valued at approximately $1,663,028.64. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

MGRC has been the subject of a number of analyst reports. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Monday, July 30th. BidaskClub downgraded McGrath RentCorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th.

Shares of MGRC opened at $57.41 on Wednesday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 2.12 and a beta of 0.80. McGrath RentCorp has a one year low of $38.82 and a one year high of $68.79.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $117.00 million during the quarter, compared to the consensus estimate of $112.69 million. McGrath RentCorp had a return on equity of 11.91% and a net margin of 34.37%. McGrath RentCorp’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. equities analysts forecast that McGrath RentCorp will post 2.73 EPS for the current fiscal year.

McGrath RentCorp Company Profile

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

Read More: Short Selling Stocks, A Beginner’s Guide

Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRC).

Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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.

Leave a Reply