Rhino Investment Partners Inc Boosts Stake in WEX Inc. $WEX

Rhino Investment Partners Inc increased its position in WEX Inc. (NYSE:WEX) by 45.7% in the first quarter, HoldingsChannel reports. The firm owned 61,205 shares of the business services provider’s stock after purchasing an additional 19,200 shares during the quarter. WEX accounts for approximately 2.6% of Rhino Investment Partners Inc’s holdings, making the stock its 15th biggest holding. Rhino Investment Partners Inc’s holdings in WEX were worth $9,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WEX. Los Angeles Capital Management LLC bought a new position in shares of WEX in the 4th quarter worth about $25,000. First Horizon Corp grew its holdings in WEX by 65.7% in the fourth quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after purchasing an additional 94 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of WEX by 368.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 173 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of WEX by 255.0% during the first quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 255 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of WEX by 225.4% in the 4th quarter. IFP Advisors Inc now owns 371 shares of the business services provider’s stock worth $55,000 after purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WEX shares. Keefe, Bruyette & Woods lifted their price objective on WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Evercore raised WEX to an “outperform” rating in a research note on Tuesday, July 21st. Loop Capital assumed coverage on WEX in a research report on Monday, April 27th. They issued a “buy” rating and a $195.00 price target for the company. Weiss Ratings lowered WEX from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird upped their price target on shares of WEX from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.30.

WEX Stock Up 3.1%

WEX stock opened at $183.50 on Wednesday. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $186.85. The stock has a fifty day simple moving average of $147.97 and a two-hundred day simple moving average of $153.15. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.08 and a beta of 0.85.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.08 by $0.27. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. During the same period in the prior year, the company posted $3.95 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Equities analysts predict that WEX Inc. will post 17.01 EPS for the current fiscal year.

WEX announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 21.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director James R. Groch bought 1,500 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the purchase, the director owned 17,957 shares of the company’s stock, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $148.40, for a total transaction of $296,800.00. Following the sale, the chief operating officer directly owned 20,288 shares in the company, valued at approximately $3,010,739.20. The trade was a 8.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by corporate insiders.

WEX Profile

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.