ClariVest Asset Management LLC boosted its position in Wabash National Corp. (NYSE:WNC) by 49.7% during the second quarter, Holdings Channel reports. The institutional investor owned 267,754 shares of the company’s stock after buying an additional 88,839 shares during the period. ClariVest Asset Management LLC’s holdings in Wabash National Corp. were worth $3,399,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP purchased a new position in shares of Wabash National Corp. during the second quarter worth about $13,342,000. Acadian Asset Management LLC boosted 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 in the last quarter. Phocas Financial Corp. purchased a new position in shares of Wabash National Corp. during the first quarter worth about $8,069,000. Spark Investment Management LLC purchased a new position in shares of Wabash National Corp. during the first quarter worth about $3,934,000. Finally, Boston Advisors LLC purchased a new position in shares of Wabash National Corp. during the second quarter worth about $3,714,000.
Shares of Wabash National Corp. (NYSE:WNC) traded down 2.25% during midday trading on Friday, hitting $13.90. The stock had a trading volume of 974,431 shares. The stock has a market cap of $888.46 million, a PE ratio of 7.28 and a beta of 2.09. The stock’s 50-day moving average is $13.92 and its 200-day moving average is $13.55. Wabash National Corp. has a 12 month low of $9.68 and a 12 month high of $14.97.
Wabash National Corp. (NYSE:WNC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.08. Wabash National Corp. had a return on equity of 28.98% and a net margin of 6.43%. The company had revenue of $471.44 million for the quarter, compared to analyst estimates of $490.19 million. During the same period in the previous year, the company posted $0.33 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. Equities analysts anticipate that Wabash National Corp. will post $1.86 EPS for the current year.
WNC has been the subject of a number of analyst reports. Stifel Nicolaus lowered Wabash National Corp. from a “hold” rating to a “sell” rating and set a $11.00 price target for the company. in a research report on Monday, June 13th. Credit Agricole SA initiated coverage on Wabash National Corp. in a research report on Friday, September 30th. They issued an “underperform” rating and a $15.00 price target for the company. Finally, Zacks Investment Research raised Wabash National Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.67.
In related news, SVP Erin Jennifer Roth sold 7,500 shares of Wabash National Corp. stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $14.50, for a total transaction of $108,750.00. Following the sale, the senior vice president now directly owns 87,520 shares in the company, valued at $1,269,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.
About Wabash National Corp.
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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