Apertura Capital LLC Acquires New Position in WEX Inc. (WEX)
Apertura Capital LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,513 shares of the business services provider’s stock, valued at approximately $6,205,000. WEX accounts for 1.6% of Apertura Capital LLC’s investment portfolio, making the stock its 12th largest position. Apertura Capital LLC owned approximately 0.14% of WEX at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. 361 Capital LLC raised its stake in WEX by 13.4% in the first quarter. 361 Capital LLC now owns 7,448 shares of the business services provider’s stock valued at $771,000 after buying an additional 879 shares in the last quarter. Tyers Asset Management LLC increased its stake in WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after buying an additional 88 shares during the last quarter. State Treasurer State of Michigan increased its stake in WEX by 0.6% in the first quarter. State Treasurer State of Michigan now owns 15,600 shares of the business services provider’s stock worth $1,615,000 after buying an additional 100 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in WEX by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 23,620 shares of the business services provider’s stock worth $2,444,000 after buying an additional 1,796 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in WEX by 2.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,472 shares of the business services provider’s stock worth $1,394,000 after buying an additional 346 shares during the last quarter.
Shares of WEX Inc. (NYSE WEX) traded up 1.46% during midday trading on Friday, reaching $106.57. 390,172 shares of the company’s stock were exchanged. The firm has a market cap of $4.57 billion, a PE ratio of 64.28 and a beta of 1.80. The stock’s 50-day moving average is $107.40 and its 200 day moving average is $105.68. WEX Inc. has a one year low of $97.26 and a one year high of $122.91.
WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. The firm had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. WEX had a net margin of 6.09% and a return on equity of 13.03%. WEX’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. Analysts anticipate that WEX Inc. will post $5.27 EPS for the current year.
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WEX has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $135.00 price target on shares of WEX in a research report on Friday, May 5th. Deutsche Bank AG upgraded WEX from a “hold” rating to a “buy” rating and raised their price target for the company from $116.00 to $125.00 in a research report on Monday, June 5th. BidaskClub downgraded WEX from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Mizuho initiated coverage on WEX in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 price target on the stock. Finally, Barclays PLC reiterated a “hold” rating and issued a $118.00 price objective on shares of WEX in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $120.91.
In other WEX news, Director James Neary sold 2,390,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $102.25, for a total transaction of $244,377,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George W. Hogan sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now owns 15,615 shares of the company’s stock, valued at $1,717,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,396,500 shares of company stock valued at $245,082,500. 0.86% of the stock is owned by insiders.
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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