VELA Investment Management LLC Sells 133,053 Shares of Wabash National Co. (NYSE:WNC)

VELA Investment Management LLC lessened its position in Wabash National Co. (NYSE:WNC - Free Report) by 73.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,049 shares of the company's stock after selling 133,053 shares during the period. VELA Investment Management LLC owned about 0.11% of Wabash National worth $941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Semanteon Capital Management LP lifted its position in Wabash National by 96.0% during the 3rd quarter. Semanteon Capital Management LP now owns 41,627 shares of the company's stock worth $799,000 after buying an additional 20,394 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in Wabash National by 11.1% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 51,000 shares of the company's stock valued at $979,000 after purchasing an additional 5,100 shares during the period. Inspire Advisors LLC lifted its position in Wabash National by 78.2% during the 3rd quarter. Inspire Advisors LLC now owns 17,984 shares of the company's stock valued at $345,000 after purchasing an additional 7,891 shares during the period. CX Institutional acquired a new position in Wabash National during the 3rd quarter valued at about $2,322,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Wabash National during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 97.05% of the company's stock.

Wabash National Stock Performance

Wabash National stock traded up $0.01 during trading hours on Friday, hitting $17.45. The company had a trading volume of 571,177 shares, compared to its average volume of 538,033. Wabash National Co. has a one year low of $15.94 and a one year high of $30.07. The firm has a 50-day moving average of $18.64 and a 200 day moving average of $20.66. The firm has a market cap of $756.28 million, a PE ratio of -3.21 and a beta of 1.54. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.88 and a quick ratio of 1.12.

Wabash National (NYSE:WNC - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $464.00 million for the quarter, compared to the consensus estimate of $477.35 million. Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The firm's revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. On average, sell-side analysts expect that Wabash National Co. will post 1.29 earnings per share for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.08 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.83%. Wabash National's dividend payout ratio is currently -5.89%.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a "neutral" rating and set a $18.00 target price on shares of Wabash National in a research note on Monday, September 30th.

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.