Arete Wealth Advisors LLC Has $333,000 Holdings in West Corporation (WSTC)
Arete Wealth Advisors LLC reduced its position in shares of West Corporation (NASDAQ:WSTC) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,300 shares of the technology company’s stock after selling 1,100 shares during the period. Arete Wealth Advisors LLC’s holdings in West Corporation were worth $333,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of West Corporation by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 5,671,163 shares of the technology company’s stock worth $138,489,000 after purchasing an additional 544,296 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of West Corporation by 37.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,240,742 shares of the technology company’s stock worth $52,254,000 after purchasing an additional 605,700 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of West Corporation during the 2nd quarter worth about $48,669,000. Dimensional Fund Advisors LP boosted its stake in shares of West Corporation by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,395,819 shares of the technology company’s stock worth $32,551,000 after purchasing an additional 38,686 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of West Corporation during the 2nd quarter worth about $25,485,000. 67.38% of the stock is currently owned by institutional investors.
In other West Corporation news, insider Rodney J. Kempkes sold 3,385 shares of West Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $23.36, for a total transaction of $79,073.60. Following the transaction, the insider now owns 52,126 shares of the company’s stock, valued at approximately $1,217,663.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rodney J. Kempkes sold 3,382 shares of West Corporation stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $23.35, for a total value of $78,969.70. Following the transaction, the insider now directly owns 55,511 shares in the company, valued at approximately $1,296,181.85. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
WSTC has been the topic of several analyst reports. BidaskClub cut shares of West Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Zacks Investment Research cut shares of West Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. West Corporation presently has a consensus rating of “Hold” and an average price target of $24.88.
Shares of West Corporation (WSTC) traded up 0.09% on Friday, hitting $23.47. 241,021 shares of the stock traded hands. West Corporation has a one year low of $19.64 and a one year high of $28.57. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 9.28 and a beta of 1.59. The company’s 50 day moving average is $23.36 and its 200 day moving average is $23.71.
West Corporation (NASDAQ:WSTC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. West Corporation had a negative return on equity of 59.08% and a net margin of 9.39%. The firm had revenue of $574.39 million for the quarter, compared to analysts’ expectations of $579.40 million. On average, equities analysts forecast that West Corporation will post $2.90 EPS for the current year.
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West Corporation Company Profile
West Corporation is a provider of communication and network infrastructure services. The Company helps its clients communicate, collaborate and connect with their audiences through a portfolio of solutions that include unified communications services, safety services, and interactive services, such as automated notifications, specialized agent services and telecom services.
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