Oppenheimer Asset Management Inc. reduced its holdings in Wesco Aircraft Holdings Inc (NYSE:WAIR) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,196 shares of the aerospace company’s stock after selling 29,013 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Wesco Aircraft were worth $475,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Wesco Aircraft by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,688,417 shares of the aerospace company’s stock valued at $63,995,000 after acquiring an additional 386,922 shares in the last quarter. FMR LLC bought a new stake in shares of Wesco Aircraft during the second quarter valued at approximately $34,957,000. Royce & Associates LP increased its holdings in shares of Wesco Aircraft by 2.2% during the second quarter. Royce & Associates LP now owns 3,050,257 shares of the aerospace company’s stock valued at $34,315,000 after acquiring an additional 64,700 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Wesco Aircraft by 767.4% during the second quarter. Bank of New York Mellon Corp now owns 2,061,173 shares of the aerospace company’s stock valued at $23,188,000 after acquiring an additional 1,823,540 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA increased its holdings in shares of Wesco Aircraft by 8.7% during the second quarter. Rutabaga Capital Management LLC MA now owns 1,508,978 shares of the aerospace company’s stock valued at $16,976,000 after acquiring an additional 120,198 shares in the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.
Several research firms have recently commented on WAIR. ValuEngine downgraded Wesco Aircraft from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. UBS Group began coverage on Wesco Aircraft in a report on Wednesday, August 15th. They set a “sell” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.70.
Wesco Aircraft (NYSE:WAIR) last announced its earnings results on Thursday, August 2nd. The aerospace company reported $0.20 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $410.36 million for the quarter, compared to analysts’ expectations of $385.06 million. Wesco Aircraft had a positive return on equity of 9.82% and a negative net margin of 0.85%. Wesco Aircraft’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, research analysts predict that Wesco Aircraft Holdings Inc will post 0.78 earnings per share for the current fiscal year.
Wesco Aircraft Profile
Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in the North America and internationally. Its services comprise traditional distribution, management of supplier relationships, quality assurance, kitting, just-in-time delivery, chemical management services, third-party logistics or fourth-party logistics programs, and point-of-use inventory management.
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