Yesterday, the President & CEO of Mcgrath Rentcorp (MGRC), Joseph Hanna, bought shares of MGRC for $1.01M.
Following this transaction Joseph Hanna’s holding in the company was increased by 55.26% to a total of $4.44 million. Following Joseph Hanna’s last MGRC Buy transaction on May 10, 2017, the stock climbed by 34.1%.
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Based on Mcgrath Rentcorp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $138 million and quarterly net profit of $22.55 million. In comparison, last year the company earned revenue of $127 million and had a net profit of $19.49 million. The company has a one-year high of $83.95 and a one-year low of $44.32. MGRC’s market cap is $1.63 billion and the company has a P/E ratio of 16.40.
In the last 30 days, insiders have sold $1.29M worth of MGRC shares and purchased $1.28M worth of MGRC shares. The insider sentiment on Mcgrath Rentcorp has been negative according to 56 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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McGrath RentCorp engages in the provision of diversified business-to-business rental services. It operates through the following segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. The Mobile Modular segment operates inventory centers, at which relocatable modular buildings and storage containers are displayed, refurbished, and stored. The TRS-RenTelco segment includes electronic test equipment rental and sales operations and provides containment solutions for the storage of hazardous and non-hazardous liquids and solids. The Adler Tanks segment operates from branch offices serving the Northeast, Mid-Atlantic, Midwest, Southeast, Southwest, and West. The Enviroplex segment manufactures modular buildings used primarily as classrooms. The company was founded by Robert P. McGrath in 1979 and is headquartered in Livermore, CA.
