Fred Alger Management LLC Sells 34,364 Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Fred Alger Management LLC trimmed its stake in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) by 39.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,484 shares of the company’s stock after selling 34,364 shares during the quarter. Fred Alger Management LLC’s holdings in WillScot Mobile Mini were worth $1,973,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of WSC. Clearbridge Investments LLC increased its position in shares of WillScot Mobile Mini by 2.6% during the second quarter. Clearbridge Investments LLC now owns 5,887,128 shares of the company’s stock valued at $221,591,000 after acquiring an additional 148,973 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of WillScot Mobile Mini by 102.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,643,901 shares of the company’s stock worth $174,796,000 after purchasing an additional 2,355,445 shares in the last quarter. Swedbank AB raised its stake in shares of WillScot Mobile Mini by 229.2% in the third quarter. Swedbank AB now owns 3,226,000 shares of the company’s stock worth $121,298,000 after purchasing an additional 2,246,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of WillScot Mobile Mini by 18.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,596,990 shares of the company’s stock valued at $97,755,000 after purchasing an additional 411,808 shares in the last quarter. Finally, Baupost Group LLC MA purchased a new stake in shares of WillScot Mobile Mini during the second quarter valued at $92,971,000. 95.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on WSC. DA Davidson decreased their target price on WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Baird R W downgraded shares of WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Robert W. Baird cut their target price on shares of WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays lowered their price target on WillScot Mobile Mini from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered WillScot Mobile Mini from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $35.00 in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, WillScot Mobile Mini currently has a consensus rating of “Hold” and an average price target of $45.00.

Insider Activity at WillScot Mobile Mini

In other WillScot Mobile Mini news, EVP Hezron T. Lopez sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $39.38, for a total value of $787,600.00. Following the completion of the transaction, the executive vice president now directly owns 57,918 shares in the company, valued at $2,280,810.84. This represents a 25.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sally J. Shanks sold 14,059 shares of WillScot Mobile Mini stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.69, for a total transaction of $487,706.71. Following the sale, the chief accounting officer now owns 26,113 shares in the company, valued at approximately $905,859.97. The trade was a 35.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 20,000 shares of company stock worth $728,750. 3.30% of the stock is owned by corporate insiders.

WillScot Mobile Mini Stock Performance

Shares of WSC opened at $38.24 on Monday. WillScot Mobile Mini Holdings Corp. has a 52 week low of $32.71 and a 52 week high of $52.16. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 3.42. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 347.67, a PEG ratio of 2.31 and a beta of 1.38. The business has a 50-day simple moving average of $37.51 and a two-hundred day simple moving average of $38.06.

WillScot Mobile Mini (NASDAQ:WSC) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). The firm had revenue of $601.43 million for the quarter, compared to the consensus estimate of $617.83 million. WillScot Mobile Mini had a return on equity of 23.97% and a net margin of 1.05%. WillScot Mobile Mini’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. On average, analysts expect that WillScot Mobile Mini Holdings Corp. will post 1.53 EPS for the current year.

About WillScot Mobile Mini

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.