PHOENIX—Erik Olsson, a director at WillScot (NASDAQ:WSC) Holdings Corp (NASDAQ:WSC), recently acquired 5,000 shares of the company's common stock. The purchase, made on November 15, 2024, was executed at an average price of $35.34 per share, amounting to a total transaction value of $176,699. Following this acquisition, Olsson holds a total of 626,306 shares in the company.
WillScot Holdings, headquartered in Phoenix, Arizona, specializes in the rental and leasing of modular space and portable storage solutions.
In other recent news, WillScot Corporation has reported some noteworthy developments. Despite a slight dip in revenue to $601 million, the company has managed to achieve a record adjusted EBITDA margin of 44.4% in its Q3 2024 earnings call. Additionally, the company saw a 13% year-over-year increase in adjusted free cash flow per share, reaching $3.12. However, it's worth noting that WillScot's performance comes amid a challenging market, with non-residential construction square footage still 15% below 2019 levels. The company also reported a decrease in storage leasing revenues. Despite these headwinds, WillScot remains focused on operational optimization and portfolio expansion, with plans for an Investor Day in the first half of 2025 to discuss growth strategies. These are some of the recent developments for the company.
InvestingPro Insights
Erik Olsson's recent purchase of WillScot Holdings Corp (NASDAQ:WSC) shares aligns with some interesting insights from InvestingPro. According to InvestingPro Tips, management has been aggressively buying back shares, which could signal confidence in the company's future prospects. This insider buying activity, coupled with Olsson's purchase, may indicate a positive outlook from those closest to the company's operations.
Despite the recent insider purchase, it's worth noting that WillScot's stock has taken a significant hit over the last week, with a 1-week price total return of -7.73%. This recent dip might present an opportunity for investors who share the optimism displayed by company insiders.
InvestingPro Data shows that WillScot boasts impressive gross profit margins, standing at 54.4% for the last twelve months as of Q3 2024. This strong profitability metric underscores the company's operational efficiency in its modular space and portable storage solutions business.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for WillScot Holdings Corp, providing a deeper understanding of the company's financial health and market position.
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