Victory Capital Management Inc. Sells 931,604 Shares of Wabash National Corporation (NYSE:WNC)

Key Points

• Victory Capital Management Inc. has significantly reduced its holdings in Wabash National Corporation by 92.9%, selling over 931,000 shares in the first quarter, leaving them with only 71,347 shares.
• Wabash National's latest earnings report showed a loss of ($0.15) EPS, which was better than expected, as well as a 16.7% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.08 per share, representing a 3.3% yield, despite a negative dividend payout ratio of -13.22%.

Victory Capital Management Inc. decreased its position in shares of Wabash National Corporation (NYSE:WNC - Free Report) by 92.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,347 shares of the company's stock after selling 931,604 shares during the quarter. Victory Capital Management Inc. owned approximately 0.17% of Wabash National worth $788,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Quantinno Capital Management LP increased 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 worth $264,000 after purchasing an additional 896 shares in the last quarter. Vident Advisory LLC increased its holdings in Wabash National by 7.0% during 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 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 purchasing an additional 1,722 shares in the last quarter. Allworth Financial LP increased its holdings in Wabash National by 268.8% during the 1st quarter. Allworth Financial LP now owns 3,220 shares of the company's stock worth $34,000 after purchasing an additional 2,347 shares in the last quarter. Finally, Curat Global LLC bought a new position in Wabash National during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 97.05% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson raised 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 traded up $0.36 during mid-day trading on Tuesday, hitting $10.01. The stock had a trading volume of 227,563 shares, compared to its average volume of 1,013,353. Wabash National Corporation has a twelve month low of $6.78 and a twelve month high of $20.63. The stock has a market cap of $409.58 million, a price-to-earnings ratio of -4.13 and a beta of 1.65. The company's 50 day simple moving average is $10.17 and its 200 day simple moving average is $10.95. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.00 and a current ratio of 1.68.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.16. Wabash National had a negative return on equity of 7.91% and a negative net margin of 6.38%. The company had revenue of $458.82 million during the quarter, compared to analysts' expectations of $435.75 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business's revenue was down 16.7% on a year-over-year basis. On average, equities research analysts forecast that Wabash National Corporation will post 0.94 earnings per share for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Wabash National's payout ratio is presently -13.22%.

About Wabash National

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.