Emerald Mutual Fund Advisers Trust increased its position in shares of West Corp. (NASDAQ:WSTC) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 19,967 shares of the company’s stock after buying an additional 2,994 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in West Corp. were worth $393,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its position in West Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,266,455 shares of the company’s stock valued at $28,901,000 after buying an additional 18,750 shares during the period. JPMorgan Chase & Co. increased its position in West Corp. by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 1,073,185 shares of the company’s stock valued at $24,490,000 after buying an additional 11,560 shares during the period. Wellington Management Group LLP increased its position in West Corp. by 24.4% in the first quarter. Wellington Management Group LLP now owns 473,977 shares of the company’s stock valued at $10,817,000 after buying an additional 92,969 shares during the period. TIAA CREF Investment Management LLC increased its position in West Corp. by 4.8% in the first quarter. TIAA CREF Investment Management LLC now owns 247,128 shares of the company’s stock valued at $5,639,000 after buying an additional 11,253 shares during the period. Finally, Phocas Financial Corp. acquired a new position in West Corp. during the first quarter valued at approximately $5,618,000. 55.09% of the stock is currently owned by institutional investors and hedge funds.
West Corp. (NASDAQ:WSTC) traded up 0.28% during mid-day trading on Monday, reaching $21.73. 86,298 shares of the company traded hands. The firm has a market capitalization of $1.80 billion, a P/E ratio of 9.70 and a beta of 1.50. The company’s 50 day moving average price is $22.51 and its 200 day moving average price is $21.94. West Corp. has a 12-month low of $17.26 and a 12-month high of $26.52.
West Corp. (NASDAQ:WSTC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. West Corp. had a negative return on equity of 44.40% and a net margin of 8.24%. The business earned $582.40 million during the quarter, compared to the consensus estimate of $576.84 million. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts predict that West Corp. will post $3.04 EPS for the current year.
WSTC has been the topic of several research reports. Zacks Investment Research raised shares of West Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 6th. Deutsche Bank AG raised their target price on shares of West Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.00.
In other West Corp. news, insider Scott Etzler sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $360,000.00. Following the completion of the transaction, the insider now directly owns 206,999 shares in the company, valued at approximately $4,967,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodney J. Kempkes sold 2,780 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $22.25, for a total value of $61,855.00. Following the completion of the transaction, the insider now owns 73,592 shares of the company’s stock, valued at $1,637,422. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
West Corp. Company Profile
West Corporation (West) is a global provider of technology-enabled communication services. The Company offers a range of communication and network infrastructure solutions that helps to manage or support communications. The Company operates through four segments: Unified Communications Services, which includes collaboration services, Unified Communications as a Service (UCaaS) and telecom services; Safety Services, which includes 9-1-1 network services, 9-1-1 telephony systems and services, 9-1-1 solutions for enterprises and database management; Interactive Services, which includes notifications and mobility, interactive voice response (IVR) self-service, cloud contact center and professional services, and Specialized Agent Services, which includes healthcare advocacy services, cost management services and revenue generation.
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