West Corporation (WSTC) Short Interest Up 50.4% in July
West Corporation (NASDAQ:WSTC) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 1,401,668 shares, an increase of 50.4% from the July 14th total of 932,026 shares. Based on an average trading volume of 588,145 shares, the short-interest ratio is presently 2.4 days. Currently, 3.2% of the company’s stock are short sold.
Shares of West Corporation (NASDAQ:WSTC) opened at 23.34 on Friday. West Corporation has a one year low of $19.64 and a one year high of $28.57. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 9.23 and a beta of 1.59. The company’s 50 day moving average price is $23.32 and its 200 day moving average price is $23.89.
West Corporation (NASDAQ:WSTC) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $574.39 million for the quarter, compared to analysts’ expectations of $579.40 million. West Corporation had a net margin of 9.39% and a negative return on equity of 59.08%. On average, analysts expect that West Corporation will post $2.92 earnings per share for the current fiscal year.
In related news, insider Rodney J. Kempkes sold 3,382 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $23.35, for a total transaction of $78,969.70. Following the completion of the sale, the insider now directly owns 55,511 shares in the company, valued at $1,296,181.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rodney J. Kempkes sold 1,160 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $23.15, for a total value of $26,854.00. Following the sale, the insider now owns 62,275 shares of the company’s stock, valued at $1,441,666.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,924 shares of company stock valued at $184,523. 4.60% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of WSTC. Ontario Teachers Pension Plan Board purchased a new stake in shares of West Corporation during the second quarter worth about $3,498,000. Dimensional Fund Advisors LP boosted its stake in shares of West Corporation by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,395,819 shares of the technology company’s stock worth $32,551,000 after buying an additional 38,686 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of West Corporation during the second quarter worth about $223,000. Glazer Capital LLC purchased a new stake in shares of West Corporation during the second quarter worth about $11,434,000. Finally, Citigroup Inc. boosted its stake in shares of West Corporation by 601.6% in the second quarter. Citigroup Inc. now owns 508,066 shares of the technology company’s stock worth $11,848,000 after buying an additional 435,646 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on WSTC. Zacks Investment Research upgraded West Corporation from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Friday, May 19th. Robert W. Baird lowered West Corporation from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, May 10th. William Blair lowered West Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 10th. Deutsche Bank AG lowered West Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $23.50 price objective on shares of West Corporation in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.88.
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West Corporation Company Profile
West Corporation is a provider of communication and network infrastructure services. The Company helps its clients communicate, collaborate and connect with their audiences through a portfolio of solutions that include unified communications services, safety services, and interactive services, such as automated notifications, specialized agent services and telecom services.
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