WEX Inc. (NYSE:WEX) Short Interest Update

WEX Inc. (NYSE:WEX) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 1,900,000 shares, a growth of 164.8% from the July 15th total of 717,400 shares. Based on an average daily trading volume, of 383,600 shares, the short-interest ratio is presently 5.0 days. Currently, 4.7% of the shares of the company are sold short.

WEX Trading Up 2.4 %

Shares of WEX traded up $4.22 during trading hours on Tuesday, hitting $177.12. The company had a trading volume of 271,646 shares, compared to its average volume of 339,116. WEX has a 52-week low of $161.95 and a 52-week high of $244.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock’s 50 day moving average price is $177.91 and its 200 day moving average price is $203.97. The firm has a market cap of $7.28 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.04 and a beta of 1.54.

Analyst Ratings Changes

A number of brokerages recently issued reports on WEX. Wells Fargo & Company lowered their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Citigroup boosted their price target on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Barclays increased their price target on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of WEX from $246.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.42.

Insider Activity at WEX

In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the sale, the insider now owns 8,461 shares in the company, valued at $1,565,623.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at $1,565,623.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,826 shares of company stock worth $693,369. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after acquiring an additional 179,813 shares during the period. Kodai Capital Management LP bought a new position in WEX during the 4th quarter valued at approximately $49,750,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in WEX in the 4th quarter worth approximately $3,617,000. International Assets Investment Management LLC grew its position in shares of WEX by 19,044.7% in the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after buying an additional 35,804 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of WEX by 2.7% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after buying an additional 22,865 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Company 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.