Intel stock extends gains after report of possible U.S. government stake
PHOENIX—Amid a challenging week that saw WillScot (NASDAQ:WSC) Holdings Corp (NASDAQ:WSC) shares decline over 10%, Graeme Parkes, Chief Information Officer at the $6.49 billion mobile office solutions provider, reported the sale of 2,900 shares of common stock on December 11, according to a recent SEC filing. The shares were sold at a weighted average price of $37.0125, with transaction prices ranging from $37.01 to $37.04. Following this transaction, Parkes holds 72,818 shares directly. This sale totaled $107,336, reflecting Parkes' ongoing management of his stake in the company. According to InvestingPro analysis, WillScot appears undervalued despite recent price weakness, with management actively pursuing share buybacks. Get access to 10+ additional exclusive ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, WillScot Corporation announced significant leadership changes, positioning Tim Boswell as Chief Operating Officer and promoting Matt Jacobsen to Chief Financial Officer, effective January 1, 2025. This strategic move is part of the company's long-term initiatives for growth and scale. In addition, WillScot reported a record adjusted EBITDA margin of 44.4% in its Q3 2024 earnings call, despite a slight decline in revenue to $601 million. The company also saw a 13% year-over-year increase in adjusted free cash flow per share, which reached $3.12.
Furthermore, WillScot noted a decrease in storage leasing revenues and a cautious outlook for the year's end, but remains focused on operational optimization and portfolio expansion. The company has planned an Investor Day in the first half of 2025 to discuss growth strategies. Despite a 13% decline in storage leasing revenues, WillScot anticipates continued margin expansion and modest growth in 2025. The company's adjusted EBITDA guidance for 2024 is revised to a midpoint of $1.60 billion, indicating a strategic focus on capital allocation, including share repurchases. These are recent developments that investors should consider.
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