Mach 1 Financial Group LLC Makes New Investment in WEX Inc. (NYSE:WEX)

Mach 1 Financial Group LLC purchased a new position in shares of WEX Inc. (NYSE:WEX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,803 shares of the business services provider’s stock, valued at approximately $545,000.

Several other large investors also recently modified their holdings of the stock. VisionPoint Advisory Group LLC grew its stake in WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of WEX during the 4th quarter worth $27,000. Cary Street Partners Investment Advisory LLC increased its position in shares of WEX by 896.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 278 shares during the period. CWM LLC increased its position in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 51 shares during the period. Finally, Signaturefd LLC grew its holdings in WEX by 131.4% in the third quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Down 0.4 %

Shares of WEX stock traded down $0.85 on Wednesday, reaching $210.41. The stock had a trading volume of 24,757 shares, compared to its average volume of 303,517. The company has a 50 day moving average price of $230.36 and a 200 day moving average price of $204.34. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The stock has a market capitalization of $8.82 billion, a P/E ratio of 34.35, a P/E/G ratio of 1.31 and a beta of 1.59.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 30.92% and a net margin of 10.21%. The firm had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. As a group, equities research analysts forecast that WEX Inc. will post 13.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on WEX shares. Mizuho upped their target price on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised their target price on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Jefferies Financial Group increased their price objective on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, April 12th. StockNews.com lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, Evercore ISI raised their target price on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

Insider Transactions at WEX

In related news, CAO Jennifer Kimball sold 574 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the sale, the chief accounting officer now directly owns 1,297 shares in the company, valued at approximately $288,245.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other WEX news, CAO Jennifer Kimball sold 574 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the sale, the chief accounting officer now directly owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sara Trickett sold 887 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock valued at $6,281,961 in the last 90 days. Insiders own 1.10% of the company’s stock.

About WEX

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.