WillScot Mobile Mini (NASDAQ:WSC) Trading Down 9.1% – Here’s What Happened

Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) were down 9.1% during mid-day trading on Friday . The company traded as low as $35.20 and last traded at $35.16. Approximately 2,947,019 shares changed hands during trading, an increase of 37% from the average daily volume of 2,146,111 shares. The stock had previously closed at $38.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WSC shares. Morgan Stanley upgraded WillScot Mobile Mini from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $50.00 in a report on Tuesday, December 17th. Baird R W downgraded WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Robert W. Baird reduced their price objective on WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut WillScot Mobile Mini from a “buy” rating to a “hold” rating and dropped their target price for the company from $46.00 to $35.00 in a research report on Thursday, October 31st. Finally, Barclays dropped their target price on WillScot Mobile Mini from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, WillScot Mobile Mini has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

WillScot Mobile Mini Stock Down 8.7 %

The firm has a market capitalization of $6.52 billion, a PE ratio of 320.94, a price-to-earnings-growth ratio of 2.05 and a beta of 1.41. The business has a 50-day moving average price of $35.96 and a 200-day moving average price of $36.92. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 3.42.

WillScot Mobile Mini (NASDAQ:WSC) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $602.52 million for the quarter, compared to analyst estimates of $606.55 million. WillScot Mobile Mini had a net margin of 1.05% and a return on equity of 23.97%. Equities research analysts forecast that WillScot Mobile Mini Holdings Corp. will post 1.53 earnings per share for the current fiscal year.

WillScot Mobile Mini Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, March 5th.

Insider Transactions at WillScot Mobile Mini

In related news, insider Graeme Parkes sold 2,900 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $37.01, for a total value of $107,329.00. Following the completion of the transaction, the insider now directly owns 72,818 shares of the company’s stock, valued at $2,694,994.18. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On WillScot Mobile Mini

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in WillScot Mobile Mini by 34.4% in the fourth quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company’s stock valued at $345,020,000 after purchasing an additional 2,639,559 shares in the last quarter. William Blair Investment Management LLC lifted its stake in WillScot Mobile Mini by 13.6% in the fourth quarter. William Blair Investment Management LLC now owns 5,555,481 shares of the company’s stock valued at $185,831,000 after buying an additional 664,805 shares during the last quarter. FMR LLC lifted its stake in WillScot Mobile Mini by 12.0% in the fourth quarter. FMR LLC now owns 5,554,101 shares of the company’s stock valued at $185,785,000 after buying an additional 595,063 shares during the last quarter. Capital International Investors lifted its stake in WillScot Mobile Mini by 20.3% in the fourth quarter. Capital International Investors now owns 5,307,738 shares of the company’s stock valued at $177,544,000 after buying an additional 897,184 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in WillScot Mobile Mini by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company’s stock valued at $161,641,000 after buying an additional 223,462 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

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.