Gargoyle Investment Advisor L.L.C. bought a new stake in Wabash National Corp. (NYSE:WNC) during the second quarter, Holdings Channel reports. The institutional investor bought 34,000 shares of the company’s stock, valued at approximately $432,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WNC. Acadian Asset Management LLC increased its position in shares of Wabash National Corp. by 45.5% in the second quarter. Acadian Asset Management LLC now owns 2,130,352 shares of the company’s stock worth $27,057,000 after buying an additional 665,784 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Wabash National Corp. by 21.1% in the first quarter. Panagora Asset Management Inc. now owns 1,261,254 shares of the company’s stock worth $16,649,000 after buying an additional 219,798 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Wabash National Corp. during the second quarter worth approximately $13,342,000. Goldman Sachs Group Inc. increased its position in shares of Wabash National Corp. by 2.2% in the first quarter. Goldman Sachs Group Inc. now owns 921,737 shares of the company’s stock worth $12,167,000 after buying an additional 20,134 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in shares of Wabash National Corp. during the first quarter worth approximately $8,069,000.
Shares of Wabash National Corp. (NYSE:WNC) traded up 1.79% during mid-day trading on Thursday, hitting $14.22. 1,433,030 shares of the stock were exchanged. Wabash National Corp. has a 12-month low of $9.68 and a 12-month high of $14.97. The company has a market capitalization of $908.91 million, a PE ratio of 7.45 and a beta of 2.09. The firm has a 50-day moving average price of $13.90 and a 200 day moving average price of $13.54.
Wabash National Corp. (NYSE:WNC) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.08. The business had revenue of $471.44 million for the quarter, compared to the consensus estimate of $490.19 million. Wabash National Corp. had a net margin of 6.43% and a return on equity of 28.98%. Wabash National Corp.’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. On average, equities research analysts expect that Wabash National Corp. will post $1.86 earnings per share for the current year.
WNC has been the topic of a number of research analyst reports. Stifel Nicolaus downgraded shares of Wabash National Corp. from a “hold” rating to a “sell” rating and set a $11.00 price objective on the stock. in a research report on Monday, June 13th. Zacks Investment Research downgraded shares of Wabash National Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Finally, Credit Agricole SA initiated coverage on shares of Wabash National Corp. in a research report on Friday, September 30th. They issued an “underperform” rating and a $15.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.67.
In related news, SVP Erin Jennifer Roth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $14.50, for a total value of $108,750.00. Following the sale, the senior vice president now directly owns 87,520 shares in the company, valued at approximately $1,269,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
Wabash National Corp. Company Profile
Wabash National Corporation is engaged in designing, manufacturing and marketing standard and customized truck and tank trailers, intermodal equipment and transportation related products. The Company’s segments include Commercial Trailer Products, Diversified Products, Retail, and Corporate and Eliminations.
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