VELA Investment Management LLC Invests $1.42 Million in Wabash National Corporation (NYSE:WNC)

VELA Investment Management LLC bought a new position in shares of Wabash National Corporation (NYSE:WNC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 128,540 shares of the company's stock, valued at approximately $1,420,000. VELA Investment Management LLC owned about 0.30% of Wabash National at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WNC. Parallel Advisors LLC grew its stake in Wabash National by 255.9% during the 1st quarter. Parallel Advisors LLC now owns 2,395 shares of the company's stock worth $26,000 after buying an additional 1,722 shares during the last quarter. Curat Global LLC purchased a new position in Wabash National during the 1st quarter worth $37,000. GAMMA Investing LLC grew its stake in Wabash National by 982.1% during the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company's stock worth $85,000 after buying an additional 6,973 shares during the last quarter. AlphaQuest LLC grew its stake in Wabash National by 332,066.7% during the 4th quarter. AlphaQuest LLC now owns 9,965 shares of the company's stock worth $171,000 after buying an additional 9,962 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in Wabash National during the 4th quarter worth $212,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Stock Performance

Wabash National stock traded up $0.02 during trading hours on Tuesday, hitting $11.30. 389,230 shares of the stock traded hands, compared to its average volume of 784,226. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.91. The firm's 50 day moving average price is $9.61 and its 200-day moving average price is $11.83. The stock has a market capitalization of $473.13 million, a price-to-earnings ratio of -7.29 and a beta of 1.65. Wabash National Corporation has a 1 year low of $6.78 and a 1 year high of $24.03.

Wabash National (NYSE:WNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.32). The firm had revenue of $380.89 million for the quarter, compared to analysts' expectations of $414.55 million. Wabash National had a negative net margin of 3.93% and a positive return on equity of 3.49%. The firm's revenue for the quarter was down 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities analysts expect that Wabash National Corporation will post 0.94 EPS for the current fiscal year.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.32 annualized dividend and a yield of 2.83%. Wabash National's payout ratio is presently -20.65%.

Analysts Set New Price Targets

Separately, DA Davidson boosted their price target on Wabash National from $7.50 to $9.50 and gave the company a "neutral" rating in a research note on Monday, June 23rd.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.