32,700 Shares in McGrath RentCorp (NASDAQ:MGRC) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,700 shares of the financial services provider's stock, valued at approximately $3,657,000. Polar Asset Management Partners Inc. owned 0.13% of McGrath RentCorp at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atala Financial Inc purchased a new stake in shares of McGrath RentCorp during the fourth quarter worth approximately $31,000. New Age Alpha Advisors LLC acquired a new position in McGrath RentCorp during the 4th quarter worth about $33,000. Canada Pension Plan Investment Board acquired a new position in McGrath RentCorp during the 4th quarter worth about $89,000. KBC Group NV lifted its stake in McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after acquiring an additional 286 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in McGrath RentCorp in the 4th quarter valued at about $136,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

McGrath RentCorp Stock Up 0.4%

NASDAQ:MGRC traded up $0.52 during mid-day trading on Wednesday, reaching $117.10. 113,303 shares of the stock were exchanged, compared to its average volume of 180,660. The company has a 50 day simple moving average of $109.54 and a 200-day simple moving average of $115.40. The stock has a market capitalization of $2.88 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.35 and a beta of 0.66. 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, April 24th. The financial services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The company had revenue of $195.42 million for the quarter, compared to the consensus estimate of $189.03 million. During the same period last year, the business posted $0.93 EPS. The company's revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joseph F. Hanna sold 5,567 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $108.89, for a total value of $606,190.63. Following the sale, the chief executive officer now directly owns 176,897 shares in the company, valued at $19,262,314.33. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John P. Skenesky sold 2,500 shares of the company's 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 transaction, the vice president now owns 8,692 shares of the company's stock, valued at $967,593.44. The trade was a 22.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,871 shares of company stock valued at $1,506,731 over the last quarter. Company insiders own 1.60% of the company's stock.

McGrath RentCorp 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.