726,847 Shares in Wabash National Corporation $WNC Acquired by Philadelphia Financial Management of San Francisco LLC

Key Points

• Philadelphia Financial Management acquired 726,847 Wabash National shares worth approximately $9.8 million, giving it a 1.78% stake. Institutional investors and hedge funds collectively own 97.05% of the company.
• Wabash National reported a quarterly loss of $0.53 per share, slightly better than estimates, while revenue fell 9.1% year over year to $417.24 million. Analysts expect a full-year loss of $2.41 per share.
• The company declared a quarterly dividend of $0.08 per share, equivalent to $0.32 annually and a 2.4% yield. Analyst views remain mixed, resulting in a consensus “Hold” rating and a $21.67 target price.

Philadelphia Financial Management of San Francisco LLC acquired a new stake in Wabash National Corporation (NYSE:WNC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 726,847 shares of the company's stock, valued at approximately $9,812,434. Wabash National accounts for 0.0% of Philadelphia Financial Management of San Francisco LLC's investment portfolio, making the stock its 14th largest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 1.78% of Wabash National as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bank of America Corp DE acquired a new position in shares of Wabash National during the 2nd quarter valued at about $4,755,000. Man Group plc bought a new stake in Wabash National in the 2nd quarter valued at about $1,927,000. Canada Pension Plan Investment Board purchased a new stake in Wabash National during the second quarter valued at about $377,000. Legal & General Group Plc bought a new position in shares of Wabash National during the second quarter valued at about $52,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Wabash National in the second quarter worth $147,000. 97.05% of the stock is owned by institutional investors and hedge funds.

Wabash National Price Performance

Wabash National stock traded up $0.10 during midday trading on Friday, reaching $13.32. The company's stock had a trading volume of 641,415 shares, compared to its average volume of 839,838. The firm has a market capitalization of $542.62 million, a PE ratio of -6.90 and a beta of 1.44. The stock's 50 day simple moving average is $12.79 and its 200 day simple moving average is $10.28. Wabash National Corporation has a fifty-two week low of $6.63 and a fifty-two week high of $14.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

Wabash National (NYSE:WNC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.03. The business had revenue of $417.24 million for the quarter, compared to analysts' expectations of $402.85 million. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Wabash National Corporation will post -2.41 earnings per share for the current year.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. Wabash National's dividend payout ratio is currently -16.58%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WNC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Wabash National in a research note on Wednesday, August 12th. DA Davidson reissued a "buy" rating and set a $20.00 target price on shares of Wabash National in a report on Monday. National Bank Financial set a $20.00 target price on shares of Wabash National in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Wabash National from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 price target on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Wabash National presently has a consensus rating of "Hold" and a consensus price target of $21.67.

About Wabash National

Wabash National Corporation NYSE: WNC is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company's product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.

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