Allworth Financial LP Boosts Stock Position in Wabash National Corporation (NYSE:WNC)

Allworth Financial LP boosted its position in Wabash National Corporation (NYSE:WNC) by 268.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,220 shares of the company’s stock after purchasing an additional 2,347 shares during the quarter. Allworth Financial LP’s holdings in Wabash National were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of Wabash National by 255.9% in the first quarter. Parallel Advisors LLC now owns 2,395 shares of the company’s stock valued at $26,000 after buying an additional 1,722 shares during the last quarter. Curat Global LLC purchased a new stake in Wabash National in the 1st quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in Wabash National by 982.1% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock valued at $85,000 after acquiring an additional 6,973 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Wabash National during the 4th quarter worth $212,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Wabash National during the fourth quarter worth $222,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson upped their target price on Wabash National from $7.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, June 23rd.

Wabash National Trading Down 2.2%

NYSE WNC opened at $9.70 on Friday. The company has a 50-day moving average of $9.99 and a 200-day moving average of $11.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.91. Wabash National Corporation has a 12 month low of $6.78 and a 12 month high of $23.11. The company has a market cap of $406.14 million, a P/E ratio of -6.26 and a beta of 1.65.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.32). The company had revenue of $380.89 million for the quarter, compared to analyst estimates of $414.55 million. Wabash National had a positive return on equity of 3.49% and a negative net margin of 3.93%. The business’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, equities analysts predict that Wabash National Corporation will post 0.94 earnings per share for the current year.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, July 3rd. Wabash National’s dividend payout ratio (DPR) is presently -20.65%.

Wabash National 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.