Weitz Investment Management Lowers stake in Wesco Aircraft Holdings Inc (WAIR)

Wesco Aircraft Holdings Inc (WAIR) : Weitz Investment Management reduced its stake in Wesco Aircraft Holdings Inc by 1.56% during the most recent quarter end. The investment management company now holds a total of 2,872,486 shares of Wesco Aircraft Holdings Inc which is valued at $39,008,360 after selling 45,514 shares in Wesco Aircraft Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Wesco Aircraft Holdings Inc makes up approximately 1.39% of Weitz Investment Management’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in WAIR in the latest quarter, The investment management firm added 125,219 additional shares and now holds a total of 3,882,361 shares of Wesco Aircraft Holdings Inc which is valued at $52,722,462.Neuberger Berman Group boosted its stake in WAIR in the latest quarter, The investment management firm added 25,924 additional shares and now holds a total of 4,579,375 shares of Wesco Aircraft Holdings Inc which is valued at $61,272,038. Wesco Aircraft Holdings Inc makes up approx 0.08% of Neuberger Berman Group’s portfolio.Amica Pension Fund Board Of Trustees boosted its stake in WAIR in the latest quarter, The investment management firm added 59,975 additional shares and now holds a total of 192,664 shares of Wesco Aircraft Holdings Inc which is valued at $2,498,852. Wesco Aircraft Holdings Inc makes up approx 0.32% of Amica Pension Fund Board Of Trustees’s portfolio. Cutler Group Lp sold out all of its stake in WAIR during the most recent quarter. The investment firm sold 700 shares of WAIR which is valued $9,849.

Wesco Aircraft Holdings Inc closed down -0.11 points or -0.79% at $13.83 with 1,68,692 shares getting traded on Friday. Post opening the session at $13.92, the shares hit an intraday low of $13.74 and an intraday high of $13.92 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Wesco Aircraft Holdings Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.28. The company had revenue of $375.20 million for the quarter, compared to analysts expectations of $381.78 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Wesco Aircraft Holdings Inc. Shares were Downgraded by Jefferies on Jul 18, 2016 to ” Underperform” and Lowered the Price Target to $ 12 from a previous price target of $14 .Shares were Reiterated by Rosenblatt on Jun 28, 2016 to “Neutral” and Lowered the Price Target to $ 12 from a previous price target of $13 .

Wesco Aircraft Holdings Inc. formerly Wesco Holdings Inc. is a distributor and provider of supply chain management solutions to the global aerospace industry. The Company’s services range from traditional distribution to the management of supplier relationships quality assurance kitting just-in-time (JIT) delivery and point-of-use inventory management. The Company operates business through two segments which include North America and Rest of World. The Company supplies 575000 active stock-keeping units (SKUs) including hardware chemicals electronic components bearings tools and machined parts. The Company serves 8300 customers which includes commercial military and general aviation sectors including the original equipment manufacturers (OEMs) and their subcontractors. The Company also services industrial customers which include customers in the automotive energy pharmaceutical and electronics sectors.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *