Y Intercept Hong Kong Ltd Takes Position in Wabash National Corporation (NYSE:WNC)

Key Points

• Y Intercept Hong Kong Ltd made a new investment in Wabash National Corporation, acquiring 60,681 shares valued at approximately $671,000, which accounts for about 0.14% of the company's stock.
• In the first quarter, several other institutional investors also initiated positions in Wabash National, including D.A. Davidson & CO. and Raymond James Financial Inc., contributing to a near-total 97.05% ownership by institutional investors.
• Wabash National recently reported a quarterly EPS of ($0.15), beating estimates, and announced a $0.08 dividend with a 3.20% yield.

Y Intercept Hong Kong Ltd acquired a new stake in Wabash National Corporation (NYSE:WNC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,681 shares of the company's stock, valued at approximately $671,000. Y Intercept Hong Kong Ltd owned about 0.14% of Wabash National as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Wabash National by 255.9% in the 1st 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 during the last quarter. Allworth Financial LP increased its holdings in shares of Wabash National by 268.8% in the 1st quarter. Allworth Financial LP now owns 3,220 shares of the company's stock valued at $34,000 after acquiring an additional 2,347 shares during the last quarter. Curat Global LLC purchased a new position in shares of Wabash National in the 1st quarter valued at about $37,000. CWM LLC boosted its position in shares of Wabash National by 1,520.7% in the 1st quarter. CWM LLC now owns 5,235 shares of the company's stock valued at $58,000 after purchasing an additional 4,912 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Wabash National by 982.1% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company's stock valued at $85,000 after purchasing an additional 6,973 shares during the period. Hedge funds and other institutional investors own 97.05% of the company's stock.

Wabash National Stock Performance

Shares of WNC stock traded down $0.53 during midday trading on Wednesday, hitting $9.93. The company had a trading volume of 1,236,167 shares, compared to its average volume of 962,658. Wabash National Corporation has a 52-week low of $6.78 and a 52-week high of $21.99. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.68 and a quick ratio of 1.00. The company's 50 day simple moving average is $10.13 and its 200 day simple moving average is $11.12. The stock has a market cap of $406.53 million, a price-to-earnings ratio of -4.10 and a beta of 1.65.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $458.82 million during the quarter, compared to the consensus estimate of $435.75 million. During the same period last year, the company earned $0.64 earnings per share. The company's revenue for the quarter was down 16.7% on a year-over-year basis. Research analysts anticipate that Wabash National Corporation will post 0.94 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 3rd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, July 3rd. Wabash National's dividend payout ratio is presently -13.22%.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their target price on Wabash National from $7.50 to $9.50 and gave the company a "neutral" rating in a research report 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.