Bath Savings Trust Co Sells 6,648 Shares of WEX Inc. $WEX

Key Points

• Bath Savings Trust Co reduced its holdings in WEX Inc. by 51.9%, selling 6,648 shares and holding 6,154 shares valued at approximately $904,000.
• Several institutional investors, including Hsbc Holdings PLC and Millennium Management LLC, significantly increased their stakes in WEX, with Hsbc's stake rising by 20,412.8%.
• WEX's stock opened at $167.56 and has a market cap of $5.74 billion, with analysts giving it a consensus rating of "Hold" and a price target of $179.82.

Bath Savings Trust Co decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 51.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,154 shares of the business services provider's stock after selling 6,648 shares during the period. Bath Savings Trust Co's holdings in WEX were worth $904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Earnest Partners LLC boosted its position in shares of WEX by 2.6% during the 1st quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider's stock valued at $140,597,000 after purchasing an additional 22,672 shares in the last quarter. Lyrical Asset Management LP boosted its holdings in WEX by 0.3% in the first quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider's stock worth $129,728,000 after acquiring an additional 2,754 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in WEX by 20,412.8% in the first quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider's stock worth $99,069,000 after acquiring an additional 635,450 shares in the last quarter. Millennium Management LLC boosted its holdings in WEX by 652.7% in the first quarter. Millennium Management LLC now owns 412,665 shares of the business services provider's stock worth $64,797,000 after acquiring an additional 357,842 shares in the last quarter. Finally, Ariel Investments LLC boosted its holdings in WEX by 29.5% in the first quarter. Ariel Investments LLC now owns 412,247 shares of the business services provider's stock worth $64,731,000 after acquiring an additional 93,975 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

Insider Buying and Selling

In related news, COO Carlos Carriedo sold 875 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the sale, the chief operating officer directly owned 5,270 shares of the company's stock, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the sale, the insider directly owned 7,295 shares of the company's stock, valued at $1,252,478.55. The trade was a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

WEX Stock Performance

Shares of WEX traded down $4.73 on Friday, reaching $163.60. 909,664 shares of the company's stock traded hands, compared to its average volume of 311,639. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. The stock has a market cap of $5.60 billion, a PE ratio of 20.68, a PEG ratio of 1.57 and a beta of 1.31. The stock's 50 day simple moving average is $168.59 and its two-hundred day simple moving average is $149.76. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WEX shares. Deutsche Bank Aktiengesellschaft started coverage on WEX in a report on Thursday, July 17th. They issued a "hold" rating and a $150.00 price target on the stock. William Blair reiterated a "market perform" rating on shares of WEX in a report on Friday, July 25th. Zacks Research lowered WEX from a "strong-buy" rating to a "hold" rating in a report on Monday. Robert W. Baird increased their price target on WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group raised their target price on WEX from $130.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, WEX presently has a consensus rating of "Hold" and a consensus price target of $179.82.

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.