Corton Capital Inc. Takes $111,000 Position in Wabash National Corporation $WNC

Corton Capital Inc. bought a new position in shares of Wabash National Corporation (NYSE:WNC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,438 shares of the company’s stock, valued at approximately $111,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WNC. SummerHaven Investment Management LLC boosted its holdings in Wabash National by 3.7% in the second quarter. SummerHaven Investment Management LLC now owns 38,962 shares of the company’s stock worth $414,000 after acquiring an additional 1,396 shares in the last quarter. Allworth Financial LP raised its position in shares of Wabash National by 268.8% in the 1st quarter. Allworth Financial LP now owns 3,220 shares of the company’s stock valued at $34,000 after purchasing an additional 2,347 shares during the last quarter. CWM LLC boosted its stake in Wabash National by 1,520.7% in the 1st quarter. CWM LLC now owns 5,235 shares of the company’s stock worth $58,000 after purchasing an additional 4,912 shares in the last quarter. Inspire Investing LLC grew its position in Wabash National by 17.1% during the 2nd quarter. Inspire Investing LLC now owns 36,431 shares of the company’s stock worth $387,000 after purchasing an additional 5,333 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Wabash National by 982.1% during the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock valued at $85,000 after purchasing an additional 6,973 shares in the last quarter. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Stock Performance

Shares of WNC stock opened at $7.70 on Wednesday. The stock has a market cap of $315.22 million, a PE ratio of -3.18 and a beta of 1.66. Wabash National Corporation has a 52-week low of $6.78 and a 52-week high of $20.63. The business has a 50-day simple moving average of $9.92 and a 200-day simple moving average of $9.94. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 1.13.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, December 1st. The company reported $0.22 earnings per share for the quarter. Wabash National had a negative return on equity of 7.91% and a negative net margin of 6.38%.The company had revenue of $482.57 million during the quarter. Wabash National has set its Q4 2021 guidance at $0.100-$0.150 EPS. On average, equities analysts expect that Wabash National Corporation will post 0.94 EPS for the current year.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 4.2%. Wabash National’s dividend payout ratio is 5.26%.

Analyst Ratings Changes

Several research firms have recently commented on WNC. Weiss Ratings reiterated a “sell (d)” rating on shares of Wabash National in a research note on Wednesday, October 8th. Wall Street Zen cut Wabash National from a “hold” rating to a “sell” rating in a research report on Saturday. National Bankshares set a $9.00 price objective on Wabash National in a report on Thursday, October 23rd. DA Davidson decreased their target price on Wabash National from $9.50 to $9.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Finally, Zacks Research downgraded shares of Wabash National from a “hold” rating to a “strong sell” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and an average price target of $9.00.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.