Accipiter Capital Management Lowers stake in Wabash National Corporation (WNC)

Wabash National Corporation (WNC) : Accipiter Capital Management reduced its stake in Wabash National Corporation by 77.51% during the most recent quarter end. The investment management company now holds a total of 200,000 shares of Wabash National Corporation which is valued at $2,648,000 after selling 689,229 shares in Wabash National Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Wabash National Corporation makes up approximately 1.50% of Accipiter Capital Management’s portfolio.

Other Hedge Funds, Including , Lazard Asset Management boosted its stake in WNC in the latest quarter, The investment management firm added 183 additional shares and now holds a total of 6,050 shares of Wabash National Corporation which is valued at $80,102.Masters Capital Management reduced its stake in WNC by selling 27,910 shares or 2.79% in the most recent quarter. The Hedge Fund company now holds 972,090 shares of WNC which is valued at $12,870,472. Wabash National Corporation makes up approx 2.78% of Masters Capital Management’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in WNC by selling 2,664 shares or 1.81% in the most recent quarter. The Hedge Fund company now holds 144,248 shares of WNC which is valued at $2,033,897. Wabash National Corporation makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio.

Wabash National Corporation closed down -0.24 points or -1.72% at $13.71 with 12,72,964 shares getting traded on Thursday. Post opening the session at $13.92, the shares hit an intraday low of $13.67 and an intraday high of $14.04 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Wabash National Corporation reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.25. The company had revenue of $447.67 million for the quarter, compared to analysts expectations of $431.44 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Wabash National Corporation. Stifel Downgraded Wabash National Corporation on Jun 14, 2016 to ” Sell”, Price Target of the shares are set at $11.

Wabash National Corporation (Wabash) is engaged in designing manufacturing and marketing standard and customized truck and tank trailers and related transportation equipment. The Company operates in three segments: Commercial Trailer Products Diversified Products and Retail. The Commercial Trailer Products segment manufactures standard and customized truck trailers. The Diversified Products segment focuses to expand its customer base diversify its product offerings end markets and revenues. The Retail segment includes its 15 Company-owned retail branch locations which are strategically located in metropolitan areas to provide additional opportunities to distribute its products. The Company’s commercial trailer product trademarks include Wabash DuraPlate DuraPlateHD DuraPlate XD-35 FreightPro ArcticLite RoadRailer Transcraft Eagle Eagle II D-Eagle and Benson. Its three trailer drag reduction systems include Ventix DRS AeroFin and AeroSkirt CX.

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