Rhino Investment Partners Inc Buys 19,200 Shares of WEX Inc. $WEX

Rhino Investment Partners Inc grew its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 45.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,205 shares of the business services provider's stock after buying an additional 19,200 shares during the quarter. WEX accounts for 2.6% of Rhino Investment Partners Inc's investment portfolio, making the stock its 15th biggest position. Rhino Investment Partners Inc owned 0.18% of WEX worth $9,367,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in WEX in the fourth quarter valued at $25,000. First Horizon Corp boosted its holdings in shares of WEX by 65.7% in the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider's stock worth $35,000 after purchasing an additional 94 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider's stock worth $35,000 after purchasing an additional 173 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of WEX by 255.0% in the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider's stock worth $54,000 after purchasing an additional 255 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of WEX by 225.4% during the 4th quarter. IFP Advisors Inc now owns 371 shares of the business services provider's stock valued at $55,000 after purchasing an additional 257 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James R. Groch bought 1,500 shares of the company's stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the acquisition, the director owned 17,957 shares in the company, valued at approximately $2,566,953.15. This trade represents a 9.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 2,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the sale, the chief operating officer directly owned 20,288 shares in the company, valued at $3,010,739.20. The trade was a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company's stock.

WEX Price Performance

WEX opened at $183.50 on Wednesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. The stock's 50 day simple moving average is $147.97 and its 200 day simple moving average is $153.15. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.08 and a beta of 0.85. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $186.85.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, beating analysts' consensus estimates of $5.08 by $0.27. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm had revenue of $753.50 million during the quarter, compared to analyst estimates of $740.72 million. During the same quarter in the prior year, the firm posted $3.95 earnings per share. The business's quarterly revenue was up 14.2% compared to the same quarter last year. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. As a group, analysts predict that WEX Inc. will post 17.01 earnings per share for the current year.

WEX declared that its Board of Directors has approved a stock buyback program on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 21.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on WEX from $161.00 to $172.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Evercore upgraded shares of WEX to an "outperform" rating in a research report on Tuesday, July 21st. Cantor Fitzgerald set a $178.00 price target on shares of WEX in a research note on Monday. Weiss Ratings lowered shares of WEX from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Finally, Mizuho upped their price objective on shares of WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $183.30.

About WEX

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.

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