McGrath RentCorp (NASDAQ:MGRC) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 125.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,962 shares of the financial services provider's stock after purchasing an additional 58,500 shares during the period. Two Sigma Advisers LP owned about 0.43% of McGrath RentCorp worth $11,050,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MGRC. KBC Group NV grew its holdings in shares of McGrath RentCorp by 32.5% in 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 during the last quarter. Covestor Ltd grew its holdings in McGrath RentCorp by 15.8% during 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 during the 3rd quarter worth about $203,000. Wealth Enhancement Advisory Services LLC grew its holdings in McGrath RentCorp by 5.4% during 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 during the 3rd quarter worth about $238,000. 92.05% of the stock is currently owned by institutional investors.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction on Friday, November 1st. The shares were sold at an average price of $114.62, for a total transaction of $114,620.00. Following the sale, the director now owns 7,500 shares of the company's stock, valued at $859,650. The trade was a 11.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph F. Hanna sold 15,840 shares of McGrath RentCorp stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the sale, the chief executive officer now directly owns 155,409 shares in the company, valued at approximately $18,630,430.92. This trade represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,016 shares of company stock valued at $5,493,411 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

McGrath RentCorp Stock Down 1.1 %

Shares of McGrath RentCorp stock traded down $1.31 during midday trading on Tuesday, hitting $120.09. The company had a trading volume of 159,627 shares, compared to its average volume of 237,595. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.71 and a beta of 0.75. The company has a fifty day simple moving average of $114.77 and a 200 day simple moving average of $109.24. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced 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. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The firm had revenue of $266.76 million during the quarter, compared to analyst estimates of $227.76 million. During the same period last year, the firm posted $1.65 EPS. McGrath RentCorp's revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that McGrath RentCorp will post 5.5 EPS for the current year.

Wall Street Analyst Weigh In

MGRC has been the topic of several recent research reports. StockNews.com upgraded shares of McGrath RentCorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 22nd. Oppenheimer raised their price target on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an "outperform" rating in a report on Friday, November 22nd.

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