WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) Sees Significant Decline in Short Interest

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 14,800,000 shares, a drop of 21.1% from the March 31st total of 18,750,000 shares. Currently, 8.3% of the shares of the company are short sold. Based on an average daily trading volume, of 3,520,000 shares, the short-interest ratio is presently 4.2 days.

WillScot Mobile Mini Trading Up 6.5 %

NASDAQ WSC opened at $27.30 on Friday. WillScot Mobile Mini has a one year low of $21.91 and a one year 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 business has a 50 day simple moving average of $27.34 and a 200 day simple moving average of $33.40. The stock has a market capitalization of $5.01 billion, a P/E ratio of 182.01, a P/E/G ratio of 2.18 and a beta of 1.25.

WillScot Mobile Mini (NASDAQ:WSC) last issued its 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). WillScot Mobile Mini had a return on equity of 24.67% and a net margin of 1.17%. The firm had revenue of $559.55 million during the quarter, compared to the consensus estimate of $555.51 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. WillScot Mobile Mini’s revenue for the quarter was down 4.7% on a year-over-year basis. Research analysts expect that WillScot Mobile Mini will post 1.77 earnings per share for the current year.

WillScot Mobile Mini Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, June 4th. WillScot Mobile Mini’s payout ratio is currently 186.67%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WSC shares. Barclays reduced their price objective on shares of WillScot Mobile Mini from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. Oppenheimer decreased their price objective on shares of 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. Robert W. Baird cut their target price on WillScot Mobile Mini from $38.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Finally, Morgan Stanley decreased their price target on WillScot Mobile Mini from $50.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

Insiders Place Their Bets

In related news, COO Timothy D. Boswell acquired 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $29.14 per share, for a total transaction of $145,700.00. Following the purchase, the chief operating officer now directly owns 34,156 shares in the company, valued at approximately $995,305.84. The trade was a 17.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Erik Olsson sold 110,307 shares of the company’s stock in a transaction 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 sale, the director now owns 626,306 shares of the company’s stock, valued at approximately $18,908,178.14. The trade was a 14.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On WillScot Mobile Mini

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in WillScot Mobile Mini by 34.4% in the 4th quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company’s stock worth $345,020,000 after purchasing an additional 2,639,559 shares during the period. William Blair Investment Management LLC boosted its position in shares of 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 acquiring an additional 664,805 shares during the period. FMR LLC grew its stake in WillScot Mobile Mini by 12.0% during the fourth quarter. FMR LLC now owns 5,554,101 shares of the company’s stock valued at $185,785,000 after acquiring an additional 595,063 shares in the last quarter. Capital International Investors increased its holdings in WillScot Mobile Mini by 20.3% during the 4th quarter. Capital International Investors now owns 5,307,738 shares of the company’s stock worth $177,544,000 after acquiring an additional 897,184 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in WillScot Mobile Mini by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company’s stock worth $161,641,000 after purchasing an additional 223,462 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

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.