Today: Wedbush Securities Inc. Reduces Position in Mobile Mini Inc. (MINI)

Today: Wedbush Securities Inc. Reduces Position in Mobile Mini Inc. (MINI)

Wedbush Securities Inc. decreased its position in shares of Mobile Mini Inc. (NASDAQ:MINI) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 48,529 shares of the company’s stock after selling 2,505 shares during the period. Wedbush Securities Inc. owned about 0.11% of Mobile Mini worth $1,466,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Mobile Mini by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,732,922 shares of the company’s stock worth $129,306,000 after buying an additional 96,617 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Mobile Mini by 2.9% in the second quarter. Vanguard Group Inc. now owns 3,518,756 shares of the company’s stock worth $121,890,000 after buying an additional 100,508 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Mobile Mini by 14.0% in the third quarter. Jennison Associates LLC now owns 3,344,722 shares of the company’s stock worth $101,011,000 after buying an additional 410,274 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Mobile Mini by 2.0% in the second quarter. BlackRock Fund Advisors now owns 2,845,858 shares of the company’s stock worth $98,581,000 after buying an additional 56,978 shares during the last quarter. Finally, Riverbridge Partners LLC raised its stake in shares of Mobile Mini by 9.8% in the third quarter. Riverbridge Partners LLC now owns 1,043,910 shares of the company’s stock worth $31,526,000 after buying an additional 93,495 shares during the last quarter.

Mobile Mini Inc. (NASDAQ:MINI) traded down 1.11% during midday trading on Monday, reaching $31.20. 4,304 shares of the company traded hands. Mobile Mini Inc. has a one year low of $23.40 and a one year high of $38.13. The stock has a market capitalization of $1.38 billion, a P/E ratio of 37.37 and a beta of 2.40. The company has a 50 day moving average price of $28.09 and a 200-day moving average price of $31.24.

Mobile Mini (NASDAQ:MINI) last announced its earnings results on Tuesday, October 25th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Mobile Mini had a net margin of 7.27% and a return on equity of 7.41%. The firm earned $128.85 million during the quarter, compared to analysts’ expectations of $132.63 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. Analysts forecast that Mobile Mini Inc. will post $1.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 9th will be paid a $0.206 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, November 7th. Mobile Mini’s dividend payout ratio is currently 97.62%.

MINI has been the topic of a number of research reports. Needham & Company LLC cut their target price on shares of Mobile Mini from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Zacks Investment Research lowered shares of Mobile Mini from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. TheStreet lowered shares of Mobile Mini from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $34.00 target price (up previously from $29.00) on shares of Mobile Mini in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Mobile Mini has a consensus rating of “Hold” and a consensus price target of $36.33.

In related news, CEO Erik Olsson purchased 3,000 shares of Mobile Mini stock in a transaction that occurred on Thursday, October 27th. The shares were bought at an average price of $25.16 per share, with a total value of $75,480.00. Following the purchase, the chief executive officer now directly owns 118,348 shares of the company’s stock, valued at approximately $2,977,635.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by insiders.

About Mobile Mini

Mobile Mini, Inc is a provider of portable storage solutions. The Company, through its subsidiary, Evergreen Tank Solutions, Inc, is a provider of specialty containment solutions in the United States. It 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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