Wolverine Asset Management LLC Has $787,000 Stake in McGrath RentCorp (NASDAQ:MGRC)

Wolverine Asset Management LLC increased its position in McGrath RentCorp (NASDAQ:MGRC) by 37.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,388 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the period. Wolverine Asset Management LLC’s holdings in McGrath RentCorp were worth $787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGRC. Natixis Advisors L.P. acquired a new position in McGrath RentCorp in the 4th quarter worth approximately $4,856,000. Charles Schwab Investment Management Inc. lifted its position in McGrath RentCorp by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 268,391 shares of the financial services provider’s stock worth $32,105,000 after buying an additional 5,792 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in McGrath RentCorp by 1.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 9,607 shares of the financial services provider’s stock worth $1,149,000 after buying an additional 100 shares in the last quarter. Principal Financial Group Inc. lifted its position in McGrath RentCorp by 33.4% in the 4th quarter. Principal Financial Group Inc. now owns 9,667 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 2,418 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in McGrath RentCorp in the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Tuesday.

McGrath RentCorp Stock Down 1.3 %

MGRC stock opened at $103.55 on Thursday. McGrath RentCorp has a 12-month low of $95.71 and a 12-month high of $130.86. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.53 and a beta of 0.77. The company has a 50 day moving average of $106.93 and a two-hundred day moving average of $111.77.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). The company had revenue of $212.60 million during the quarter, compared to analysts’ expectations of $210.23 million. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, research analysts anticipate that McGrath RentCorp will post 4.97 EPS for the current year.

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.