Magnetar Financial LLC Makes New Investment in WEX Inc. (NYSE:WEX)

Magnetar Financial LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 18,906 shares of the business services provider's stock, valued at approximately $3,315,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Janus Henderson Group PLC raised its holdings in WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider's stock worth $873,251,000 after buying an additional 25,365 shares during the period. FMR LLC raised its holdings in shares of WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock worth $326,237,000 after acquiring an additional 125,262 shares during the period. State Street Corp lifted its position in WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider's stock valued at $260,265,000 after acquiring an additional 3,882 shares in the last quarter. River Road Asset Management LLC boosted its stake in WEX by 0.7% in the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider's stock worth $127,255,000 after purchasing an additional 5,377 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of WEX by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider's stock worth $65,633,000 after buying an additional 30,395 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

WEX Stock Performance

Shares of NYSE WEX traded down $3.66 during mid-day trading on Tuesday, reaching $153.93. 3,251,820 shares of the company were exchanged, compared to its average volume of 444,471. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The stock has a market capitalization of $5.97 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.06 and a beta of 1.61. The company's 50-day simple moving average is $164.45 and its 200-day simple moving average is $180.17. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, research analysts predict that WEX Inc. will post 14.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Jefferies Financial Group raised their price objective on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Citigroup lowered WEX from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. William Blair restated a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Finally, Mizuho cut their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, WEX has a consensus rating of "Hold" and an average price target of $195.73.

WEX Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.