BlackRock Inc. trimmed its stake in Mobile Mini, Inc. (NASDAQ:MINI) by 2.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,287,964 shares of the industrial products company’s stock after selling 133,678 shares during the quarter. BlackRock Inc. owned about 12.04% of Mobile Mini worth $157,846,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in Mobile Mini in the first quarter valued at approximately $117,000. SG Americas Securities LLC purchased a new stake in Mobile Mini in the second quarter valued at approximately $152,000. Trexquant Investment LP purchased a new stake in Mobile Mini in the second quarter valued at approximately $206,000. Eqis Capital Management Inc. purchased a new stake in Mobile Mini in the second quarter valued at approximately $209,000. Finally, State of Alaska Department of Revenue grew its holdings in Mobile Mini by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 8,728 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 3,818 shares during the period.
Mobile Mini (NASDAQ:MINI) last issued its earnings results on Friday, July 21st. The industrial products company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.03 million. Mobile Mini had a net margin of 10.03% and a return on equity of 7.52%. Mobile Mini’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS.
MINI has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Mobile Mini in a report on Friday, September 1st. BidaskClub upgraded shares of Mobile Mini from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Robert W. Baird set a $34.00 target price on shares of Mobile Mini and gave the company a “hold” rating in a report on Sunday, September 10th. KeyCorp restated a “hold” rating on shares of Mobile Mini in a report on Wednesday, October 4th. Finally, Zacks Investment Research downgraded shares of Mobile Mini from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Mobile Mini has a consensus rating of “Hold” and a consensus target price of $35.33.
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In related news, Director Lawrence Trachtenberg sold 10,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $31.59, for a total value of $315,900.00. Following the transaction, the director now owns 38,181 shares in the company, valued at $1,206,137.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Funk sold 15,997 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $30.25, for a total value of $483,909.25. Following the completion of the transaction, the chief financial officer now owns 170,291 shares in the company, valued at approximately $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 in the last quarter. 6.50% of the stock is owned by corporate insiders.
Mobile Mini 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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