Broad Bay Capital Management LP Trims Position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Broad Bay Capital Management LP cut its holdings in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,509,500 shares of the company's stock after selling 85,985 shares during the period. WillScot Mobile Mini makes up approximately 6.2% of Broad Bay Capital Management LP's portfolio, making the stock its 5th biggest position. Broad Bay Capital Management LP owned approximately 0.82% of WillScot Mobile Mini worth $50,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of WillScot Mobile Mini by 770.3% during the 3rd quarter. Barclays PLC now owns 353,485 shares of the company's stock worth $13,292,000 after purchasing an additional 312,867 shares in the last quarter. Virtu Financial LLC bought a new position in shares of WillScot Mobile Mini in the third quarter valued at approximately $468,000. Tidal Investments LLC boosted its position in shares of WillScot Mobile Mini by 44.6% during the third quarter. Tidal Investments LLC now owns 11,975 shares of the company's stock valued at $450,000 after buying an additional 3,692 shares during the last quarter. Retirement Systems of Alabama grew its holdings in WillScot Mobile Mini by 7.9% during the third quarter. Retirement Systems of Alabama now owns 124,985 shares of the company's stock worth $4,699,000 after buying an additional 9,159 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in WillScot Mobile Mini in the 4th quarter valued at $279,000. 95.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Erik Olsson sold 110,307 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $30.19, for a total value of $3,330,168.33. Following the transaction, the director now directly owns 626,306 shares in the company, valued at approximately $18,908,178.14. This represents a 14.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bradley Lee Soultz bought 10,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $26.79 per share, with a total value of $267,900.00. Following the completion of the transaction, the chief executive officer now owns 128,817 shares of the company's stock, valued at $3,451,007.43. The trade was a 8.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.30% of the stock is owned by company insiders.

WillScot Mobile Mini Stock Performance

Shares of NASDAQ:WSC traded down $0.77 during trading on Friday, hitting $26.93. 2,740,310 shares of the company were exchanged, compared to its average volume of 2,700,378. The company has a market cap of $4.94 billion, a PE ratio of 179.55, a P/E/G ratio of 2.18 and a beta of 1.28. WillScot Mobile Mini Holdings Corp. has a 52-week low of $21.91 and a 52-week high of $43.80. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a 50 day moving average of $26.80 and a 200 day moving average of $33.04.

WillScot Mobile Mini (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). The firm had revenue of $559.55 million during the quarter, compared to analysts' expectations of $555.51 million. WillScot Mobile Mini had a return on equity of 24.67% and a net margin of 1.17%. The company's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. As a group, equities research analysts predict that WillScot Mobile Mini Holdings Corp. will post 1.77 EPS for the current year.

WillScot Mobile Mini Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, June 4th. WillScot Mobile Mini's dividend payout ratio is 311.11%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of WillScot Mobile Mini from $50.00 to $38.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barclays reduced their target price on WillScot Mobile Mini from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Oppenheimer lowered their target price on WillScot Mobile Mini from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird decreased their price objective on shares of WillScot Mobile Mini from $38.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.50.

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.