Trexquant Investment LP Increases Position in McGrath RentCorp $MGRC

Key Points

• Trexquant Investment LP increased its stake in McGrath RentCorp by 152.8%, acquiring an additional 14,602 shares, bringing its total holdings to 24,158 shares valued at approximately $2.69 million.
• CEO Joseph F. Hanna and other executives sold a combined total of 20,519 shares valued at about $2.53 million in recent months, with significant decreases in their ownership percentages.
• McGrath RentCorp reported a strong quarterly earnings performance, with earnings per share of $1.46 exceeding analysts’ expectations, contributing to a 10.8% increase in revenue year-over-year.

Trexquant Investment LP boosted its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 152.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,158 shares of the financial services provider's stock after acquiring an additional 14,602 shares during the quarter. Trexquant Investment LP owned 0.10% of McGrath RentCorp worth $2,691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Focus Partners Wealth purchased a new position in shares of McGrath RentCorp during the 4th quarter valued at about $136,000. State of Wyoming purchased a new stake in McGrath RentCorp during the 4th quarter worth $159,000. Teza Capital Management LLC acquired a new stake in shares of McGrath RentCorp in the 4th quarter valued at about $213,000. Nisa Investment Advisors LLC grew its position in McGrath RentCorp by 9.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider's stock worth $233,000 after purchasing an additional 174 shares during the last quarter. Finally, Forum Financial Management LP boosted its holdings in shares of McGrath RentCorp by 11.2% in the fourth quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 216 shares in the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

McGrath RentCorp Price Performance

NASDAQ:MGRC traded down $2.03 during midday trading on Monday, reaching $123.65. The stock had a trading volume of 23,529 shares, compared to its average volume of 141,011. The firm's fifty day simple moving average is $120.39 and its 200-day simple moving average is $115.17. The stock has a market capitalization of $3.04 billion, a P/E ratio of 12.04, a PEG ratio of 1.30 and a beta of 0.61. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.30 by $0.16. The business had revenue of $235.62 million during the quarter, compared to analysts' expectations of $220.71 million. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The firm's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kimberly Ann Box sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $118.50, for a total transaction of $177,750.00. Following the completion of the sale, the director owned 7,000 shares of the company's stock, valued at approximately $829,500. This represents a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph F. Hanna sold 14,577 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total value of $1,844,719.35. Following the completion of the transaction, the chief executive officer directly owned 153,637 shares in the company, valued at $19,442,762.35. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

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.