Msd Capital L P Lowers stake in WEX Inc (WEX)

WEX Inc (WEX) : Msd Capital L P reduced its stake in WEX Inc by 29.27% during the most recent quarter end. The investment management company now holds a total of 273,486 shares of WEX Inc which is valued at $25,808,874 after selling 113,188 shares in WEX Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.WEX Inc makes up approximately 4.94% of Msd Capital L P’s portfolio.

Other Hedge Funds, Including , Voya Investment Management reduced its stake in WEX by selling 332,644 shares or 95.13% in the most recent quarter. The Hedge Fund company now holds 17,038 shares of WEX which is valued at $1,607,876.Liberty Mutual Group Asset Management boosted its stake in WEX in the latest quarter, The investment management firm added 1,491 additional shares and now holds a total of 16,797 shares of WEX Inc which is valued at $1,585,133. WEX Inc makes up approx 0.06% of Liberty Mutual Group Asset Management’s portfolio.Canada Pension Plan Investment Board reduced its stake in WEX by selling 67,600 shares or 64.26% in the most recent quarter. The Hedge Fund company now holds 37,600 shares of WEX which is valued at $3,548,312. WEX Inc makes up approx 0.01% of Canada Pension Plan Investment Board’s portfolio.Blackrock Advisors boosted its stake in WEX in the latest quarter, The investment management firm added 1,945 additional shares and now holds a total of 21,192 shares of WEX Inc which is valued at $1,999,889.Partners Group Holding Ag boosted its stake in WEX in the latest quarter, The investment management firm added 972 additional shares and now holds a total of 207,453 shares of WEX Inc which is valued at $19,577,340. WEX Inc makes up approx 4.46% of Partners Group Holding Ag’s portfolio.

WEX Inc opened for trading at $100 and hit $103.81 on the upside on Thursday, eventually ending the session at $103.02, with a gain of 3.74% or 3.71 points. The heightened volatility saw the trading volume jump to 4,48,294 shares. Company has a market cap of $4,401 M.

On the company’s financial health, WEX Inc reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.01. The company had revenue of $233.90 million for the quarter, compared to analysts expectations of $223.25 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS.

Many Wall Street Analysts have commented on WEX Inc. WEX Inc was Upgraded by CLSA to ” Outperform” on Sep 1, 2016. Company shares were Upgraded by Barclays on Jul 7, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 98 from a previous price target of $80 .WEX Inc was Initiated by SunTrust to “Neutral” on Jun 24, 2016.

WEX Inc. is a provider of corporate payment solutions. The Company operates in two segments: Fleet Payment Solutions and Other Payment Solutions. The Company’s Fleet Payment Solutions segment provides customers with fleet vehicle payment processing services for commercial and Government fleets. Its Other Payment Solutions segment comprises its virtual healthcare paycard and prepaid products. The Company’s United States operations include the Company and its wholly owned subsidiaries WEX Bank FleetOne and Evolution1. Its international operations include its wholly owned subsidiaries WEX Fuel Cards Australia WEX Prepaid Cards Australia WEX New Zealand WEX Europe Limited UNIK S.A. and WEX Europe Services Limited and its subsidiaries.

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