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

VELA Investment Management LLC acquired a new position in shares of Wabash National Corporation (NYSE:WNC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 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 hedge funds and other institutional investors also recently bought and sold shares of WNC. Quantinno Capital Management LP lifted its holdings in Wabash National by 6.2% during the 4th quarter. Quantinno Capital Management LP now owns 15,420 shares of the company's stock valued at $264,000 after buying an additional 896 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Wabash National by 7.0% in the 4th quarter. Vident Advisory LLC now owns 25,752 shares of the company's stock worth $441,000 after purchasing an additional 1,678 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Wabash National by 255.9% during the first quarter. Parallel Advisors LLC now owns 2,395 shares of the company's stock valued at $26,000 after acquiring an additional 1,722 shares in the last quarter. Curat Global LLC purchased a new position in shares of Wabash National in the first quarter worth $37,000. Finally, BNP Paribas Financial Markets lifted its position in Wabash National by 4.5% during the 4th quarter. BNP Paribas Financial Markets now owns 88,422 shares of the company's stock worth $1,515,000 after acquiring an additional 3,832 shares during the period. Hedge funds and other institutional investors own 97.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson boosted their target price on shares of 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 Stock Performance

NYSE:WNC opened at $11.49 on Friday. Wabash National Corporation has a 1-year low of $6.78 and a 1-year high of $24.03. The firm has a market capitalization of $481.09 million, a price-to-earnings ratio of -7.41 and a beta of 1.65. The company's 50-day moving average is $9.58 and its two-hundred day moving average is $11.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.91.

Wabash National (NYSE:WNC - Get Free Report) last issued its 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). Wabash National had a positive return on equity of 3.49% and a negative net margin of 3.93%. The business had revenue of $380.89 million for the quarter, compared to analyst estimates of $414.55 million. During the same period last year, the business posted $0.39 EPS. Wabash National's revenue was down 26.1% on a year-over-year basis. Analysts forecast that Wabash National Corporation will post 0.94 EPS for the current year.

Wabash National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 3rd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.79%. Wabash National's dividend payout ratio (DPR) is -20.65%.

Wabash National 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.

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