Macquarie Group Ltd. Buys New Stake in West Corp. (WSTC)
Macquarie Group Ltd. bought a new position in West Corp. (NASDAQ:WSTC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,920 shares of the company’s stock, valued at approximately $1,453,000. Macquarie Group Ltd. owned about 0.09% of West Corp. as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in West Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,403 shares of the company’s stock worth $126,000 after buying an additional 775 shares in the last quarter. Strs Ohio increased its position in West Corp. by 2.2% in the second quarter. Strs Ohio now owns 41,000 shares of the company’s stock worth $806,000 after buying an additional 900 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in West Corp. by 3.5% in the second quarter. UBS Asset Management Americas Inc. now owns 30,515 shares of the company’s stock worth $600,000 after buying an additional 1,041 shares in the last quarter. American Financial Group Inc. increased its position in West Corp. by 11.5% in the second quarter. American Financial Group Inc. now owns 13,942 shares of the company’s stock worth $274,000 after buying an additional 1,433 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its position in West Corp. by 15.3% in the second quarter. 1st Global Advisors Inc. now owns 12,452 shares of the company’s stock worth $245,000 after buying an additional 1,655 shares in the last quarter. 55.09% of the stock is currently owned by institutional investors.
Shares of West Corp. (NASDAQ:WSTC) opened at 21.60 on Tuesday. West Corp. has a one year low of $17.26 and a one year high of $26.52. The company has a 50 day moving average price of $23.04 and a 200 day moving average price of $22.03. The company has a market cap of $1.79 billion, a P/E ratio of 9.64 and a beta of 1.48.
West Corp. (NASDAQ:WSTC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. West Corp. had a negative return on equity of 44.40% and a net margin of 8.24%. The company earned $582.40 million during the quarter, compared to analysts’ expectations of $576.84 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts expect that West Corp. will post $3.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 22nd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.90 annualized dividend and a dividend yield of 4.17%. West Corp.’s dividend payout ratio is presently 40.18%.
A number of research analysts have commented on the company. Zacks Investment Research downgraded West Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 7th. Deutsche Bank AG increased their target price on West Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.00.
In related news, insider Scott Etzler sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $360,000.00. Following the completion of the transaction, the insider now owns 206,999 shares of the company’s stock, valued at approximately $4,967,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.60% of the company’s stock.
West Corp. Company Profile
West Corporation (West) is a global provider of technology-enabled communication services. The Company offers a range of communication and network infrastructure solutions that helps to manage or support communications. The Company operates through four segments: Unified Communications Services, which includes collaboration services, Unified Communications as a Service (UCaaS) and telecom services; Safety Services, which includes 9-1-1 network services, 9-1-1 telephony systems and services, 9-1-1 solutions for enterprises and database management; Interactive Services, which includes notifications and mobility, interactive voice response (IVR) self-service, cloud contact center and professional services, and Specialized Agent Services, which includes healthcare advocacy services, cost management services and revenue generation.
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