Noteworthy Short Interest Filing: A Reversal for Wex Incorporated (NYSE:WEX) Is Not Near. The Stock Has Rise in Shorts

November 21, 2016 - By Darrin Black   ·   0 Comments

Noteworthy Short Interest Filing: A Reversal for Wex Incorporated (NYSE:WEX) Is Not Near. The Stock Has Rise in Shorts

The stock of Wex Incorporated (NYSE:WEX) registered an increase of 10.9% in short interest. WEX’s total short interest was 2.53 million shares in November as published by FINRA. Its up 10.9% from 2.28 million shares, reported previously. With 263,500 shares average volume, it will take short sellers 10 days to cover their WEX’s short positions. The short interest to Wex Incorporated’s float is 7.32%. About 36,498 shares traded hands. WEX Inc (NYSE:WEX) has risen 20.39% since April 19, 2016 and is uptrending. It has outperformed by 16.53% the S&P500.

WEX Inc. is a provider of corporate payment solutions. The company has a market cap of $4.64 billion. The Firm operates through three divisions: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. It has a 55.7 P/E ratio. The Fleet Solutions segment provides clients with payment and transaction processing services designed for the needs of commercial and government fleets.

Insitutional Activity: The institutional sentiment decreased to 1.16 in 2016 Q2. Its down 0.33, from 1.49 in 2016Q1. The ratio turned negative, as 16 funds sold all WEX Inc shares owned while 59 reduced positions. 25 funds bought stakes while 87 increased positions. They now own 39.12 million shares or 0.20% more from 39.04 million shares in 2016Q1.
Principal Financial Group Inc Inc accumulated 148,374 shares or 0.02% of the stock. Cubist Systematic Strategies Ltd Limited Liability Company holds 14,777 shares or 0.08% of its portfolio. Moreover, High Point Bank Company has 0% invested in WEX Inc (NYSE:WEX) for 104 shares. State Street has 1.03M shares for 0.01% of their US portfolio. Blackrock Fund Advsrs owns 1.37 million shares or 0.03% of their US portfolio. Deutsche Bancshares Ag accumulated 502,926 shares or 0.03% of the stock. Moreover, Ameritas Inv Prtnrs has 0.04% invested in WEX Inc (NYSE:WEX) for 6,119 shares. Par Mngmt reported 420,000 shares or 0.62% of all its holdings. Loomis Sayles & L P owns 481,641 shares or 0.12% of their US portfolio. Fdx Advsr reported 9,077 shares or 0.04% of all its holdings. Plante Moran Advisors Ltd Liability Company owns 145 shares or 0.01% of their US portfolio. Eulav Asset Mgmt last reported 0.64% of its portfolio in the stock. Dimensional Fund Advisors Limited Partnership last reported 0.02% of its portfolio in the stock. Prtn Grp Ag last reported 207,453 shares in the company. Oakbrook Investments Ltd Company owns 3,950 shares or 0.02% of their US portfolio.

WEX Inc (NYSE:WEX) Ratings Coverage

Out of 16 analysts covering WEX (NYSE:WEX), 4 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 25% are positive. WEX has been the topic of 34 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, February 9 by Oppenheimer. Credit Suisse initiated WEX Inc (NYSE:WEX) on Friday, December 11 with “Outperform” rating. The firm earned “Neutral” rating on Friday, June 24 by Suntrust Robinson. As per Friday, August 14, the company rating was downgraded by JP Morgan. The stock has “Market Perform” rating given by Wells Fargo on Thursday, April 28. The firm has “Equal Weight” rating by Barclays Capital given on Wednesday, August 19. The company was maintained on Monday, September 19 by Jefferies. The stock has “Neutral” rating given by SunTrust on Friday, June 24. The company was maintained on Wednesday, February 3 by Keefe Bruyette & Woods. The firm has “Neutral” rating by Compass Point given on Friday, April 15.

WEX Company Profile

WEX Inc., incorporated on June 18, 1999, is a well-known provider of corporate payment solutions. The Firm operates through three divisions: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides clients with payment and transaction processing services designed for the needs of commercial and government fleets. This segment also provides information management services to these fleet customers. The Travel and Corporate Solutions segment focuses on the complex payment environment of business-to-business payments, providing clients with payment processing solutions for their corporate payment and transaction monitoring needs. The Health and Employee Benefit Solutions segment provides healthcare payment products and software as a service (SaaS) consumer directed platforms, as well as payroll related benefits to clients in Brazil. The United States activities include the Company and its subsidiaries WEX Bank, WEX FleetOne, Evolution1 and Benaissance. The Company’s international activities include its subsidiaries, WEX Fuel Cards Australia, WEX Prepaid Cards Australia, WEX New Zealand, WEX Europe Limited, UNIK S.A., and an equity position in WEX Europe Services Limited and its subsidiaries.

More notable recent WEX Inc (NYSE:WEX) news were published by: Businesswire.com which released: “WEX Inc. to Present at the Credit Suisse 20th Annual Technology, Media …” on November 17, 2016, also Businesswire.com with their article: “WEX Inc. Reports First Quarter 2016 Financial Results” published on April 27, 2016, Businesswire.com published: “WEX Inc. and ExxonMobil Extend North American Fleet Card Contract for 10 More …” on October 27, 2016. More interesting news about WEX Inc (NYSE:WEX) were released by: Businesswire.com and their article: “WEX Inc. and QuikTrip Build on 23-Year Track Record of Fleet Card Success with …” published on May 25, 2016 as well as Businesswire.com‘s news article titled: “WEX Inc. Reports Second Quarter 2016 Financial Results” with publication date: July 27, 2016.

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By Darrin Black


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