Victory Capital Management Inc. Increases Stock Holdings in Wabash National Co. (NYSE:WNC)

Victory Capital Management Inc. raised its stake in Wabash National Co. (NYSE:WNC) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,044,268 shares of the company’s stock after purchasing an additional 28,913 shares during the quarter. Victory Capital Management Inc. owned 2.41% of Wabash National worth $20,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James & Associates lifted its holdings in shares of Wabash National by 42.4% in the 2nd quarter. Raymond James & Associates now owns 202,034 shares of the company’s stock valued at $4,412,000 after buying an additional 60,178 shares during the period. VELA Investment Management LLC lifted its holdings in shares of Wabash National by 19.0% in the 2nd quarter. VELA Investment Management LLC now owns 182,102 shares of the company’s stock valued at $3,977,000 after buying an additional 29,011 shares during the period. Millennium Management LLC lifted its holdings in shares of Wabash National by 1,311.6% in the 2nd quarter. Millennium Management LLC now owns 279,900 shares of the company’s stock valued at $6,113,000 after buying an additional 260,072 shares during the period. CX Institutional acquired a new stake in shares of Wabash National in the 3rd quarter valued at approximately $2,322,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Wabash National in the 2nd quarter valued at approximately $100,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “neutral” rating and issued a $18.00 price target on shares of Wabash National in a report on Monday, September 30th.

Wabash National Stock Performance

Shares of WNC stock opened at $19.03 on Tuesday. The stock has a fifty day moving average price of $18.64 and a 200 day moving average price of $20.25. The stock has a market cap of $824.76 million, a PE ratio of -3.53 and a beta of 1.54. Wabash National Co. has a 1 year low of $15.94 and a 1 year high of $30.07. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.12 and a current ratio of 1.88.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $464.00 million for the quarter, compared to analyst estimates of $477.35 million. Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The business’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 firm posted $1.16 earnings per share. Sell-side analysts forecast that Wabash National Co. will post 1.29 earnings per share for the current fiscal year.

Wabash National Company Profile

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.