Melqart Asset Management UK Ltd Reduces Stock Position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Melqart Asset Management UK Ltd cut its position in shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) by 25.4% during the third quarter, Holdings Channel.com reports. The firm owned 317,535 shares of the company’s stock after selling 108,095 shares during the quarter. WillScot Mobile Mini makes up approximately 1.1% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 28th biggest position. Melqart Asset Management UK Ltd’s holdings in WillScot Mobile Mini were worth $11,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the company. Tidal Investments LLC boosted its position in shares of WillScot Mobile Mini by 129.2% during the first quarter. Tidal Investments LLC now owns 13,279 shares of the company’s stock worth $617,000 after buying an additional 7,486 shares during the period. CWM LLC boosted its holdings in WillScot Mobile Mini by 80.3% during the 2nd quarter. CWM LLC now owns 1,635 shares of the company’s stock valued at $62,000 after acquiring an additional 728 shares during the period. Salvus Wealth Management LLC purchased a new position in WillScot Mobile Mini during the 2nd quarter valued at about $1,782,000. Swedbank AB grew its position in WillScot Mobile Mini by 15.7% in the 2nd quarter. Swedbank AB now owns 980,000 shares of the company’s stock valued at $36,887,000 after acquiring an additional 133,000 shares in the last quarter. Finally, Reinhart Partners LLC. purchased a new stake in WillScot Mobile Mini during the second quarter worth about $8,905,000. Hedge funds and other institutional investors own 95.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on WSC shares. Robert W. Baird lowered their price objective on shares of WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Baird R W cut shares of WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. 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 research report on Thursday, October 31st. Finally, Barclays decreased their target price on WillScot Mobile Mini from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, WillScot Mobile Mini has an average rating of “Hold” and a consensus price target of $45.00.

Insider Transactions at WillScot Mobile Mini

In other news, CEO Bradley Lee Soultz bought 5,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $36.38 per share, for a total transaction of $181,900.00. Following the completion of the transaction, the chief executive officer now owns 144,686 shares of the company’s stock, valued at approximately $5,263,676.68. This trade represents a 3.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sally J. Shanks sold 14,059 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.69, for a total value of $487,706.71. Following the transaction, the chief accounting officer now owns 26,113 shares in the company, valued at $905,859.97. This represents a 35.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 20,000 shares of company stock worth $728,750. 3.30% of the stock is currently owned by insiders.

WillScot Mobile Mini Stock Down 1.3 %

WillScot Mobile Mini stock opened at $37.70 on Wednesday. The stock’s fifty day moving average is $37.40 and its two-hundred day moving average is $38.03. The stock has a market cap of $6.97 billion, a PE ratio of 342.76, a P/E/G ratio of 2.31 and a beta of 1.38. WillScot Mobile Mini Holdings Corp. has a 1-year low of $32.71 and a 1-year high of $52.16. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.90 and a quick ratio of 0.82.

WillScot Mobile Mini (NASDAQ:WSC) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.10). The business had revenue of $601.43 million for the quarter, compared to analyst estimates 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 period last year, the business posted $0.46 EPS. On average, sell-side analysts expect that WillScot Mobile Mini Holdings Corp. will post 1.53 EPS for the current fiscal 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.