Brandywine Global Investment Management LLC Buys 6,127 Shares of WEX Inc. $WEX

Key Points

• Brandywine Global Investment Management LLC increased its stake in WEX Inc. by 25.1% in Q1, acquiring 30,569 shares valued at approximately $4.8 million.
• Insiders at WEX have recently sold a total of 4,206 shares worth $665,265, indicating potential concerns about the stock's performance.
• Analyst price targets for WEX range from $150.00 to $198.00, with a consensus rating of "Hold" and an average target price of $181.50.

Brandywine Global Investment Management LLC boosted its stake in WEX Inc. (NYSE:WEX - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,569 shares of the business services provider's stock after purchasing an additional 6,127 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.09% of WEX worth $4,800,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Isthmus Partners LLC raised its position in shares of WEX by 5.4% during the 1st quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider's stock valued at $312,000 after buying an additional 101 shares in the last quarter. Cornerstone Investment Partners LLC raised its position in shares of WEX by 2.9% during the 1st quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock valued at $739,000 after buying an additional 133 shares in the last quarter. Foyston Gordon & Payne Inc raised its position in shares of WEX by 0.7% during the 4th quarter. Foyston Gordon & Payne Inc now owns 19,657 shares of the business services provider's stock valued at $3,446,000 after buying an additional 137 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of WEX during the 4th quarter valued at about $25,000. Finally, EP Wealth Advisors LLC raised its position in shares of WEX by 13.2% during the 4th quarter. EP Wealth Advisors LLC now owns 1,356 shares of the business services provider's stock valued at $238,000 after buying an additional 158 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Trading Up 2.1%

NYSE:WEX traded up $3.5030 during mid-day trading on Friday, hitting $173.1130. 299,895 shares of the stock traded hands, compared to its average volume of 419,994. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.62 and a beta of 1.28. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The firm's 50 day moving average is $159.14 and its two-hundred day moving average is $147.46. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99.

Wall Street Analysts Forecast Growth

WEX has been the topic of several recent research reports. UBS Group upped their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Mizuho upped their target price on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a report on Thursday, July 17th. They set a "hold" rating and a $150.00 price target on the stock. Oppenheimer assumed coverage on shares of WEX in a report on Thursday, May 15th. They set a "market perform" rating on the stock. Finally, William Blair reiterated a "market perform" rating on shares of WEX in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $179.82.

Insider Activity at WEX

In other WEX news, COO Carlos Carriedo sold 875 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total value of $150,220.00. Following the transaction, the chief operating officer directly owned 5,270 shares in the company, valued at $904,753.60. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction dated 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 transaction, the insider owned 7,295 shares in the company, valued at $1,252,478.55. This represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,206 shares of company stock valued at $665,265 over the last 90 days. 1.40% of the stock is currently owned by insiders.

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.