WillScot Mobile Mini (NASDAQ:WSC) Sees Strong Trading Volume Following Insider Buying Activity

Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) saw unusually-high trading volume on Wednesday after an insider bought additional shares in the company. Approximately 1,386,774 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 1,960,418 shares.The stock last traded at $40.49 and had previously closed at $40.19.

Specifically, CEO Bradley Lee Soultz acquired 5,000 shares of WillScot Mobile Mini stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $38.97 per share, for a total transaction of $194,850.00. Following the completion of the purchase, the chief executive officer now directly owns 149,686 shares in the company, valued at approximately $5,833,263.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays downgraded WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $50.00 to $44.00 in a report on Thursday. Bank of America lowered their target price on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. DA Davidson dropped their target price on WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus decreased their price objective on shares of WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer cut their target price on shares of WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.90.

WillScot Mobile Mini Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 2.88. The stock has a market cap of $7.32 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The firm’s 50-day moving average is $38.20 and its two-hundred day moving average is $39.85.

WillScot Mobile Mini (NASDAQ:WSC) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $604.59 million for the quarter, compared to the consensus estimate of $614.85 million. WillScot Mobile Mini had a net margin of 7.77% and a return on equity of 24.27%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, research analysts expect that WillScot Mobile Mini Holdings Corp. will post 1.76 EPS for the current year.

Institutional Trading of WillScot Mobile Mini

A number of institutional investors and hedge funds have recently made changes to their positions in WSC. Sanctuary Advisors LLC acquired a new position in shares of WillScot Mobile Mini during the 2nd quarter valued at about $514,000. Clearbridge Investments LLC boosted its position in WillScot Mobile Mini by 2.6% during the second quarter. Clearbridge Investments LLC now owns 5,887,128 shares of the company’s stock worth $221,591,000 after purchasing an additional 148,973 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in WillScot Mobile Mini by 7.8% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 40,880 shares of the company’s stock valued at $1,539,000 after purchasing an additional 2,960 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of WillScot Mobile Mini by 15,389.0% in the second quarter. Sunbelt Securities Inc. now owns 53,747 shares of the company’s stock valued at $2,023,000 after purchasing an additional 53,400 shares during the period. Finally, Creative Planning lifted its stake in shares of WillScot Mobile Mini by 21.1% in the second quarter. Creative Planning now owns 11,855 shares of the company’s stock worth $446,000 after buying an additional 2,068 shares during the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

WillScot Mobile Mini Company Profile

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.