Corsair Capital Management L.P. Has $11.96 Million Position in WillScot Corp (WSC)
Corsair Capital Management L.P. increased its holdings in WillScot Corp (NASDAQ:WSC) by 96.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 697,067 shares of the company’s stock after purchasing an additional 342,450 shares during the quarter. WillScot accounts for 2.7% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 13th biggest position. Corsair Capital Management L.P. owned 0.69% of WillScot worth $11,955,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its position in WillScot by 37.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,549,338 shares of the company’s stock worth $95,171,000 after purchasing an additional 1,519,134 shares during the period. Wells Fargo & Company MN grew its holdings in WillScot by 1,502.3% in the 3rd quarter. Wells Fargo & Company MN now owns 3,256,162 shares of the company’s stock worth $55,844,000 after acquiring an additional 3,052,946 shares during the last quarter. BlackRock Inc. grew its holdings in WillScot by 23.7% in the 3rd quarter. BlackRock Inc. now owns 2,308,020 shares of the company’s stock worth $39,583,000 after acquiring an additional 442,343 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in WillScot by 234.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,990,941 shares of the company’s stock worth $34,144,000 after acquiring an additional 1,396,031 shares during the last quarter. Finally, FMR LLC bought a new stake in WillScot in the 3rd quarter worth $32,316,000. Institutional investors own 53.52% of the company’s stock.
A number of brokerages have issued reports on WSC. Morgan Stanley began coverage on shares of WillScot in a report on Monday, October 1st. They issued an “overweight” rating and a $21.00 price target on the stock. Zacks Investment Research lowered shares of WillScot from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Barclays began coverage on shares of WillScot in a report on Monday, November 19th. They issued an “equal weight” rating and a $18.00 price target on the stock. Deutsche Bank began coverage on shares of WillScot in a report on Monday, October 1st. They issued a “buy” rating on the stock. Finally, Oppenheimer raised their price target on shares of WillScot from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. WillScot presently has an average rating of “Buy” and a consensus price target of $18.43.
WillScot (NASDAQ:WSC) last announced its earnings results on Thursday, November 8th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.32). The company had revenue of $218.90 million for the quarter, compared to the consensus estimate of $204.10 million. WillScot had a negative net margin of 26.49% and a negative return on equity of 9.21%. The firm’s revenue for the quarter was up 88.4% on a year-over-year basis. Research analysts expect that WillScot Corp will post -0.13 earnings per share for the current fiscal year.
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WillScot Company Profile
WillScot Corporation, through its subsidiaries, provides various specialty rental services in the United States, Canada, and Mexico. It is involved in the leasing and sale of mobile offices, modular buildings, and storage products. The company offers various modular space units, including panelized and stackable offices, single-wide modular space units, section modulars and redi-plex complexes, classrooms, container offices, and other modular spaces; and portable storage units, such as shipping containers with swing doors.
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