Gerard E. Holthaus, a director at WillScot (NASDAQ:WSC) Holdings Corp (NASDAQ:WSC), has made a significant purchase of the company's stock, according to a recent SEC filing. On November 19, Holthaus acquired 5,000 shares of WillScot Holdings' common stock at an average price of $34.9911 per share, totaling approximately $174,955.
This transaction increased Holthaus's total direct ownership to 411,221 shares. The shares were purchased in multiple transactions with prices ranging from $34.92 to $35.06. Holthaus's acquisition reflects continued confidence in the company's prospects.
In other recent news, WillScot Corporation reported impressive financial results despite a challenging market. The company reported a record adjusted EBITDA margin of 44.4% in its Q3 2024 earnings call, with a 13% year-over-year increase in adjusted free cash flow per share, reaching $3.12. However, the company experienced a slight decline in revenue to $601 million.
Despite a decrease in storage leasing revenues, WillScot remains optimistic, focusing on operational optimization and portfolio expansion. The company plans to host an Investor Day in the first half of 2025 to discuss growth strategies.
WillScot also revealed that it reduced variable costs by over $20 million, aiding in margin expansion. The company anticipates continued margin expansion and modest growth in 2025. Furthermore, the company's share repurchase authorization increased to $1 billion, and leverage is at 3.4 times net debt to adjusted EBITDA, within the target range.
These are the recent developments in WillScot's operations, providing insights into its financial health and future strategies.
InvestingPro Insights
Gerard E. Holthaus's recent purchase of WillScot Holdings Corp (NASDAQ:WSC) shares aligns with several key insights from InvestingPro. The director's decision to increase his stake comes at a time when the company is trading near its 52-week low, potentially indicating a belief in the stock's undervaluation. This perspective is supported by an InvestingPro Tip highlighting that management has been aggressively buying back shares, suggesting internal confidence in the company's value.
Despite the recent stock purchase by the director, it's worth noting that WillScot's stock has experienced a year-to-date price total return of -20.92% as of the most recent data. This decline might explain why the stock is currently trading at about 67.37% of its 52-week high, presenting what insiders may view as a buying opportunity.
The company's financial health appears robust, with InvestingPro Data showing impressive gross profit margins of 54.4% for the last twelve months as of Q3 2024. This strong profitability is complemented by an adjusted operating income of $573.66 million over the same period, indicating efficient operations.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 11 more tips available for WillScot Holdings Corp. These tips could provide valuable context for understanding the company's financial position and future prospects in light of recent insider buying activity.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.