Beverly Hills Private Wealth LLC Sells 12,779 Shares of WEX Inc. $WEX

Key Points

• Beverly Hills Private Wealth LLC significantly reduced its stake in WEX Inc. by 88.8%, selling 12,779 shares and holding just 1,616 shares worth $237,000 after the sale.
• Insider Ann Elena Drew sold 1,931 shares at an average price of $171.69, representing a 20.93% decrease in her ownership.
• Analysts have a consensus rating of "Hold" for WEX, with target prices ranging from $150.00 to $210.00 after several recent upgrades and downgrades.

Beverly Hills Private Wealth LLC lessened its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 88.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,616 shares of the business services provider's stock after selling 12,779 shares during the quarter. Beverly Hills Private Wealth LLC's holdings in WEX were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. raised its position in WEX by 22.1% in the 2nd quarter. UMB Bank n.a. now owns 376 shares of the business services provider's stock valued at $55,000 after purchasing an additional 68 shares during the last quarter. Inspire Investing LLC raised its position in WEX by 3.5% in the 1st quarter. Inspire Investing LLC now owns 2,588 shares of the business services provider's stock valued at $406,000 after purchasing an additional 87 shares during the last quarter. Isthmus Partners LLC raised its position in WEX by 5.4% in the 1st quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider's stock valued at $312,000 after purchasing an additional 101 shares during the last quarter. Cornerstone Investment Partners LLC raised its position in WEX by 2.9% in the 1st quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock valued at $739,000 after purchasing an additional 133 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in WEX by 50.7% in the 1st quarter. Brooklyn Investment Group now owns 422 shares of the business services provider's stock valued at $66,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

WEX Trading Up 1.4%

WEX stock opened at $155.05 on Wednesday. The company has a market cap of $5.31 billion, a P/E ratio of 19.60, a PEG ratio of 1.34 and a beta of 1.26. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $214.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. The business has a fifty day moving average of $164.74 and a 200-day moving average of $150.10.

Insiders Place Their Bets

In related news, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total transaction of $331,533.39. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following 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 disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Zacks Research downgraded WEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Robert W. Baird lifted their price objective on WEX from $198.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Barclays lifted their price objective on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on WEX in a research report on Thursday, July 17th. They issued a "hold" rating and a $150.00 price objective for the company. Finally, UBS Group boosted their target price on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $173.50.

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.

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