EntryPoint Capital LLC Sells 2,397 Shares of WEX Inc. $WEX

Key Points

• EntryPoint Capital LLC sold 2,397 shares of WEX Inc., reducing its position by 58.5% in the 1st quarter, leaving them with 1,703 shares valued at $267,000.
• Multiple institutional investors have increased their stakes in WEX, with GAMMA Investing LLC significantly raising theirs by 27,871.3%, now owning 69,089 shares worth $10,848,000.
• WEX's stock performance shows a 1-year range between $110.45 and $217.47, with analysts rating it a consensus "Hold" and an average price target of $179.82.

EntryPoint Capital LLC lowered its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,703 shares of the business services provider's stock after selling 2,397 shares during the period. EntryPoint Capital LLC's holdings in WEX were worth $267,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of WEX by 1.0% during the first quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock valued at $9,272,000 after buying an additional 578 shares during the period. GAMMA Investing LLC increased its stake in shares of WEX by 27,871.3% during the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock valued at $10,848,000 after buying an additional 68,842 shares during the period. Cerity Partners LLC increased its stake in shares of WEX by 88.5% during the first quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock valued at $1,571,000 after buying an additional 4,695 shares during the period. Farther Finance Advisors LLC increased its stake in shares of WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after buying an additional 168 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of WEX by 69.8% during the first quarter. Blue Trust Inc. now owns 2,420 shares of the business services provider's stock valued at $380,000 after buying an additional 995 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Price Performance

Shares of WEX stock opened at $173.1130 on Friday. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. The stock's 50-day moving average is $159.14 and its 200 day moving average is $147.74. The company has a market cap of $5.93 billion, a P/E ratio of 21.89, a PEG ratio of 1.59 and a beta of 1.28. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04.

Wall Street Analyst Weigh In

WEX has been the topic of several research reports. Jefferies Financial Group raised their price target on WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. Barclays raised their price target on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Robert W. Baird raised their price objective on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group raised their price objective on WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Morgan Stanley raised their price objective on WEX from $142.00 to $170.00 and gave the company an "equal weight" rating in a research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $179.82.

Insiders Place Their Bets

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the completion of the sale, the chief accounting officer owned 3,177 shares of the company's stock, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Carlos Carriedo sold 875 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value 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 represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,206 shares of company stock worth $665,265 in the last three months. Insiders own 1.40% of the company's stock.

About WEX

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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