Yorktown Management & Research Co Inc Takes $319,000 Position in McGrath RentCorp (NASDAQ:MGRC)

Yorktown Management & Research Co Inc purchased a new position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,850 shares of the financial services provider's stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGRC. KBC Group NV raised its holdings in McGrath RentCorp by 32.5% during the third quarter. KBC Group NV now owns 767 shares of the financial services provider's stock worth $81,000 after purchasing an additional 188 shares in the last quarter. Covestor Ltd raised its position in McGrath RentCorp by 15.8% in the third 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. Empirical Asset Management LLC purchased a new stake in shares of McGrath RentCorp during the 4th quarter worth $207,000. Millburn Ridgefield Corp purchased a new position in shares of McGrath RentCorp in the 3rd quarter valued at about $203,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of McGrath RentCorp by 5.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 104 shares during the period. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Gilda Malek sold 919 shares of the business's stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MGRC shares. CJS Securities started coverage on shares of McGrath RentCorp in a research report on Wednesday, December 11th. They set an "outperform" rating and a $152.00 price target for the company. Oppenheimer lifted their price objective on McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Finally, StockNews.com raised McGrath RentCorp from a "hold" rating to a "buy" rating in a report on Friday, January 17th.

McGrath RentCorp Stock Performance

McGrath RentCorp stock traded down $4.24 during trading on Friday, hitting $120.73. The company's stock had a trading volume of 88,760 shares, compared to its average volume of 143,715. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.26 and a beta of 0.77. The stock's fifty day moving average is $117.55 and its 200 day moving average is $112.19. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $130.86.

McGrath RentCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $0.475 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.57%. McGrath RentCorp's payout ratio is 20.77%.

McGrath RentCorp 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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.