Dark Forest Capital Management LP Makes New Investment in WEX Inc. (NYSE:WEX)

Dark Forest Capital Management LP acquired a new stake in shares of WEX Inc. (NYSE:WEX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,393 shares of the business services provider's stock, valued at approximately $595,000.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of WEX in the third quarter worth approximately $35,000. Jones Financial Companies Lllp increased its holdings in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after buying an additional 129 shares during the last quarter. UMB Bank n.a. increased its holdings in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock worth $46,000 after buying an additional 221 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock worth $48,000 after buying an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Stock Performance

Shares of WEX traded down $5.94 during trading hours on Thursday, reaching $124.43. 337,704 shares of the company traded hands, compared to its average volume of 551,274. The stock's fifty day moving average is $142.85 and its 200 day moving average is $166.61. The stock has a market cap of $4.26 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The firm had revenue of $636.60 million during the quarter, compared to analyst estimates of $631.42 million. During the same quarter in the prior year, the business posted $3.46 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Mizuho lowered their price target on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. William Blair reiterated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Jefferies Financial Group increased their price target on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Finally, Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $185.80.

WEX 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.