McGrath RentCorp (NASDAQ:MGRC) Position Trimmed by Citadel Advisors LLC

Citadel Advisors LLC reduced its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 75.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,497 shares of the financial services provider's stock after selling 104,457 shares during the period. Citadel Advisors LLC owned approximately 0.14% of McGrath RentCorp worth $3,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MGRC. O Shaughnessy Asset Management LLC increased its holdings in McGrath RentCorp by 3.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider's stock valued at $291,000 after buying an additional 86 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of McGrath RentCorp by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider's stock worth $285,000 after acquiring an additional 162 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of McGrath RentCorp by 1.8% in the 4th quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider's stock worth $1,182,000 after acquiring an additional 184 shares during the last quarter. Forum Financial Management LP increased its stake in McGrath RentCorp by 11.2% during the 4th quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock worth $240,000 after buying an additional 216 shares during the period. Finally, Hsbc Holdings PLC increased its stake in McGrath RentCorp by 6.6% during the 4th quarter. Hsbc Holdings PLC now owns 3,964 shares of the financial services provider's stock worth $442,000 after buying an additional 245 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Trading Up 0.9%

Shares of MGRC traded up $1.07 during trading hours on Thursday, reaching $114.55. The company had a trading volume of 129,059 shares, compared to its average volume of 181,803. The firm has a 50 day simple moving average of $109.54 and a 200-day simple moving average of $115.39. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The business had revenue of $195.42 million during the quarter, compared to the consensus estimate of $189.03 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current year.

Insider Transactions at McGrath RentCorp

In related news, VP John P. Skenesky sold 2,500 shares of McGrath RentCorp stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the sale, the vice president now owns 8,692 shares in the company, valued at approximately $967,593.44. The trade was a 22.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the sale, the director now owns 7,500 shares of the company's stock, valued at approximately $935,175. This trade represents a 11.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,871 shares of company stock valued at $1,506,731. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

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.