Wedbush Securities Inc. Cuts Position in Mobile Mini, Inc. (NASDAQ:MINI)
Wedbush Securities Inc. decreased its position in shares of Mobile Mini, Inc. (NASDAQ:MINI) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 40,120 shares of the industrial products company’s stock after selling 800 shares during the period. Wedbush Securities Inc.’s holdings in Mobile Mini were worth $1,198,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in Mobile Mini during the first quarter worth $117,000. Foresters Investment Management Company Inc. increased its stake in Mobile Mini by 6.5% in the first quarter. Foresters Investment Management Company Inc. now owns 4,900 shares of the industrial products company’s stock worth $149,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Mobile Mini by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,910 shares of the industrial products company’s stock worth $149,000 after buying an additional 100 shares during the last quarter. Trexquant Investment LP purchased a new stake in Mobile Mini during the second quarter worth $206,000. Finally, Eqis Capital Management Inc. purchased a new stake in Mobile Mini during the second quarter worth $209,000.
Shares of Mobile Mini, Inc. (NASDAQ:MINI) opened at 29.90 on Friday. Mobile Mini, Inc. has a 1-year low of $23.40 and a 1-year high of $37.05. The company has a 50 day moving average price of $30.21 and a 200 day moving average price of $30.19. The company has a market capitalization of $1.31 billion, a PE ratio of 25.98 and a beta of 2.26.
Mobile Mini (NASDAQ:MINI) last posted its quarterly earnings data on Friday, July 21st. The industrial products company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.02. Mobile Mini had a return on equity of 7.52% and a net margin of 10.03%. The firm had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $126.03 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that Mobile Mini, Inc. will post $1.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a $0.227 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.91 dividend on an annualized basis and a yield of 3.04%. Mobile Mini’s dividend payout ratio is currently 78.45%.
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A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Mobile Mini from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. BidaskClub cut Mobile Mini from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $35.00.
In other Mobile Mini news, Director Lawrence Trachtenberg sold 10,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $31.59, for a total value of $315,900.00. Following the transaction, the director now directly owns 38,181 shares in the company, valued at approximately $1,206,137.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Funk sold 15,997 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $30.25, for a total transaction of $483,909.25. Following the completion of the transaction, the chief financial officer now owns 170,291 shares in the company, valued at $5,151,302.75. The disclosure for this sale can be found here. Insiders sold a total of 156,065 shares of company stock worth $4,832,212 over the last 90 days. Insiders own 6.50% of the company’s stock.
Mobile Mini Company Profile
Mobile Mini, Inc is a provider of portable storage solutions. The Company, through its subsidiary, Evergreen Tank Solutions, Inc (ETS), is a provider of specialty containment solutions in the United States. The Company manages its business as two portable storage solutions business segments, North America and the U.K., and one specialty containment business segment.
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