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

Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) saw strong trading volume on Wednesday following insider buying activity. 1,386,774 shares were traded 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 the company’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $38.97 per share, with a total value of $194,850.00. Following the purchase, the chief executive officer now directly owns 149,686 shares in the company, valued at approximately $5,833,263.42. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

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

WillScot Mobile Mini Stock Performance

The company has a market cap of $7.32 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.36 and a beta of 1.36. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 2.88. The stock’s 50 day moving average price is $38.20 and its 200 day moving average price is $39.85.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Brevan Howard Capital Management LP purchased a new stake in WillScot Mobile Mini during the fourth quarter valued at about $2,268,000. Norden Group LLC grew its holdings in shares of WillScot Mobile Mini by 2,181.8% during the 1st quarter. Norden Group LLC now owns 129,330 shares of the company’s stock worth $6,014,000 after purchasing an additional 123,662 shares during the period. Ranger Investment Management L.P. acquired a new stake in WillScot Mobile Mini during the 4th quarter worth approximately $14,196,000. Sei Investments Co. raised its holdings in WillScot Mobile Mini by 74.4% in the first quarter. Sei Investments Co. now owns 640,720 shares of the company’s stock valued at $29,793,000 after buying an additional 273,431 shares during the period. Finally, Bank of Nova Scotia lifted its position in WillScot Mobile Mini by 1,480.8% during the fourth quarter. Bank of Nova Scotia now owns 169,308 shares of the company’s stock valued at $7,534,000 after buying an additional 158,598 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

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.