Engine Capital Management LP Acquires New Position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Engine Capital Management LP bought a new position in shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 246,551 shares of the company’s stock, valued at approximately $9,280,000. WillScot Mobile Mini accounts for 1.7% of Engine Capital Management LP’s holdings, making the stock its 18th biggest holding. Engine Capital Management LP owned 0.13% of WillScot Mobile Mini as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of WillScot Mobile Mini in the 4th quarter worth approximately $38,000. TFO Wealth Partners LLC boosted its position in WillScot Mobile Mini by 6,578.6% during the fourth quarter. TFO Wealth Partners LLC now owns 935 shares of the company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in WillScot Mobile Mini during the first quarter worth $55,000. Summit Securities Group LLC acquired a new stake in WillScot Mobile Mini in the second quarter valued at $56,000. Finally, CWM LLC increased its position in shares of WillScot Mobile Mini by 80.3% in the second quarter. CWM LLC now owns 1,635 shares of the company’s stock valued at $62,000 after buying an additional 728 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WSC shares. Oppenheimer lowered their price objective on shares of WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered their price target on shares of WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Bank of America cut their price objective on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Barclays cut WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $50.00 to $44.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus cut their price target on WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, WillScot Mobile Mini currently has an average rating of “Moderate Buy” and an average target price of $47.90.

Insider Buying and Selling

In related news, CEO Bradley Lee Soultz purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $38.97 per share, for a total transaction of $194,850.00. Following the acquisition, the chief executive officer now directly owns 149,686 shares in the company, valued at $5,833,263.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by company insiders.

WillScot Mobile Mini Price Performance

WSC stock opened at $40.45 on Tuesday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The stock’s fifty day simple moving average is $38.26 and its 200-day simple moving average is $39.65. WillScot Mobile Mini Holdings Corp. has a 52-week low of $33.23 and a 52-week high of $52.16. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 2.88.

WillScot Mobile Mini (NASDAQ:WSC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $604.59 million during the quarter, compared to analysts’ expectations of $614.85 million. WillScot Mobile Mini had a net margin of 7.77% and a return on equity of 24.27%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. Equities research analysts expect that WillScot Mobile Mini Holdings Corp. will post 1.76 EPS for the current year.

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.