Roubaix Capital LLC Has $3.13 Million Stock Holdings in WEX Inc. $WEX

Key Points

• Roubaix Capital LLC reduced its stake in WEX Inc. by 34.5%, now holding 19,902 shares worth approximately $3.1 million after selling 10,474 shares in the first quarter.
• Investment analysts have varied price targets for WEX, with Mizuho raising it to $185.00 and Morgan Stanley increasing it to $170.00, while the average price target stands at $181.50.
• Company insiders have sold a total of 4,206 shares valued at around $665,265 over the past three months, representing a significant decrease in their ownership stakes.

Roubaix Capital LLC lessened its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 34.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,902 shares of the business services provider's stock after selling 10,474 shares during the period. Roubaix Capital LLC owned about 0.06% of WEX worth $3,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WEX. Investment Management Corp VA ADV acquired a new stake in shares of WEX during the 4th quarter valued at $25,000. State of Wyoming acquired a new stake in shares of WEX during the 4th quarter valued at $35,000. Farther Finance Advisors LLC lifted its position in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after acquiring an additional 168 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of WEX by 78.1% during the 1st quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock valued at $69,000 after acquiring an additional 193 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of WEX during the 1st quarter valued at $201,000. Institutional investors and hedge funds own 97.47% of the company's stock.

Insider Activity at WEX

In other news, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the transaction, the insider directly owned 7,295 shares of the company's stock, valued at approximately $1,252,478.55. This represents a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Melissa D. Smith purchased 3,721 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the completion of the purchase, the chief executive officer directly owned 101,182 shares of the company's stock, valued at $13,616,061.74. The trade was a 3.82% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is owned by insiders.

WEX Stock Down 0.8%

NYSE:WEX traded down $1.3760 on Tuesday, hitting $171.3040. 344,321 shares of the company's stock traded hands, compared to its average volume of 502,116. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. The company has a market cap of $5.87 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28. The firm has a 50-day moving average price of $157.28 and a 200-day moving average price of $147.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WEX. Robert W. Baird increased their price objective on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Barclays increased their price objective on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Wells Fargo & Company cut their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. UBS Group increased their price objective on WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Oppenheimer began coverage on WEX in a report on Thursday, May 15th. They issued a "market perform" rating for the company. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $181.50.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.