Northern Right Capital Management Lowers stake in Westport Innovations (USA) (WPRT)

Westport Innovations (USA) (WPRT) : Northern Right Capital Management reduced its stake in Westport Innovations (USA) by 44.55% during the most recent quarter end. The investment management company now holds a total of 2,600,801 shares of Westport Innovations (USA) which is valued at $4,213,298 after selling 2,089,195 shares in Westport Innovations (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Westport Innovations (USA) makes up approximately 5.49% of Northern Right Capital Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Securities boosted its stake in WPRT in the latest quarter, The investment management firm added 14,549 additional shares and now holds a total of 28,647 shares of Westport Innovations (USA) which is valued at $46,408. Westport Innovations (USA) makes up approx 0.02% of Two Sigma Securities’s portfolio. Credit Suisse Ag added WPRT to its portfolio by purchasing 43,980 company shares during the most recent quarter which is valued at $71,248.Marathon Capital Management reduced its stake in WPRT by selling 2,500 shares or 15.38% in the most recent quarter. The Hedge Fund company now holds 13,750 shares of WPRT which is valued at $22,275. Westport Innovations (USA) makes up approx 0.01% of Marathon Capital Management’s portfolio. Blackrock Fund Advisors sold out all of its stake in WPRT during the most recent quarter. The investment firm sold 64,925 shares of WPRT which is valued $105,179. Blackrock Institutional Trust Company N.a. sold out all of its stake in WPRT during the most recent quarter. The investment firm sold 749,116 shares of WPRT which is valued $1,213,568.

Westport Innovations (USA) opened for trading at $1.34 and hit $1.35 on the upside on Thursday, eventually ending the session at $1.34, with a gain of 0.75% or 0.01 points. The heightened volatility saw the trading volume jump to 3,38,805 shares. Company has a market cap of $147 M.

On the company’s financial health, Westport Innovations (USA) reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.21. The company had revenue of $44.40 million for the quarter, compared to analysts expectations of $41.85 million. The company’s revenue was up 59.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.

Many Wall Street Analysts have commented on Westport Innovations (USA). Rodman & Renshaw Initiated Westport Innovations (USA) on Jun 20, 2016 to “Buy”, Price Target of the shares are set at $5.

Westport Innovations Inc. is a provider of engine and fuel system technologies utilizing gaseous fuels. The Company operates through six segments: Westport Applied Technologies Business Unit Westport On-Road Systems Business Unit Westport Off-Road Systems Business Unit Corporate and Technology Investments Business Unit Cummins Westport Inc and Weichai Westport Inc. Westport Applied Technologies Business Unit designs produces and sells compressed natural gas and liquefied petroleum gas components and subsystems for natural gas vehicles. Westport On-Road Systems Business Unit engineers designs assemble and sell natural gas engine and vehicle systems. Westport Off-Road Systems Business Unit engineers designs and markets the Company’s natural gas technologies. Cummins Westport serves the medium- to heavy-duty engine markets with spark ignited natural gas engines. Weichai Westport develops manufactures and sells advanced alternative fuel engines and parts.

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