Lifestyle Asset Management Inc. Increases Holdings in WEX Inc. $WEX

Key Points

• Lifestyle Asset Management Inc. increased its stake in WEX Inc. by 47.2% in Q2, holding 7,739 shares worth approximately $1,137,000.
• WEX's stock has received varying analyst ratings, with a current consensus rating of "Hold" and a price target of $179.82.
• Insider sales were reported, including COO Carlos Carriedo selling 875 shares and Ann Elena Drew selling 1,931 shares, indicating a decrease in their ownership of the stock.

Lifestyle Asset Management Inc. increased its stake in WEX Inc. (NYSE:WEX - Free Report) by 47.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,739 shares of the business services provider's stock after buying an additional 2,482 shares during the period. Lifestyle Asset Management Inc.'s holdings in WEX were worth $1,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WEX. Inspire Investing LLC lifted its holdings in shares of WEX by 3.5% during the first quarter. Inspire Investing LLC now owns 2,588 shares of the business services provider's stock worth $406,000 after buying an additional 87 shares during the last quarter. Isthmus Partners LLC raised its stake in WEX by 5.4% in the first 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 during the period. Cornerstone Investment Partners LLC lifted its holdings in shares of WEX by 2.9% during the first quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock worth $739,000 after buying an additional 133 shares in the last quarter. Brooklyn Investment Group lifted its stake in WEX by 50.7% during the first quarter. Brooklyn Investment Group now owns 422 shares of the business services provider's stock worth $66,000 after purchasing an additional 142 shares during the last quarter. Finally, Investment Management Corp VA ADV bought a new position in shares of WEX during the fourth quarter valued at $25,000. Institutional investors own 97.47% of the company's stock.

WEX Price Performance

Shares of NYSE:WEX traded down $4.73 during midday trading on Friday, hitting $163.60. The company had a trading volume of 909,664 shares, compared to its average volume of 311,639. The business's 50-day simple moving average is $168.59 and its 200-day simple moving average is $149.76. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.

Wall Street Analyst Weigh In

WEX has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Zacks Research lowered shares of WEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Robert W. Baird raised their target price on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Mizuho lifted their price target on WEX from $150.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, William Blair reaffirmed a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $179.82.

Insider Buying and Selling

In other 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 transaction, the insider owned 7,295 shares of the company's stock, valued at $1,252,478.55. The trade was a 20.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Carlos Carriedo sold 875 shares of the 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 completion of the sale, the chief operating officer owned 5,270 shares of the company's stock, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Corporate 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.