Brookstone Capital Management purchased a new stake in shares of Worldpay Inc (NYSE:WP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,145 shares of the business services provider’s stock, valued at approximately $318,000.
A number of other large investors also recently added to or reduced their stakes in WP. TRUE Private Wealth Advisors bought a new position in shares of Worldpay in the third quarter worth about $112,000. Fort L.P. bought a new position in shares of Worldpay in the second quarter worth about $120,000. Bogart Wealth LLC bought a new position in shares of Worldpay in the second quarter worth about $136,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Worldpay in the third quarter worth about $146,000. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of Worldpay by 90.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,283 shares of the business services provider’s stock worth $187,000 after acquiring an additional 1,085 shares during the period. 89.19% of the stock is owned by institutional investors and hedge funds.
In other Worldpay news, insider Rohinton Kalifa sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $100.77, for a total transaction of $7,557,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Philip Jansen sold 130,908 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $92.26, for a total value of $12,077,572.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,232 shares of company stock valued at $24,772,828. 1.05% of the stock is owned by corporate insiders.
Worldpay (NYSE:WP) last announced its quarterly earnings results on Thursday, November 8th. The business services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Worldpay had a positive return on equity of 14.55% and a negative net margin of 1.72%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Research analysts predict that Worldpay Inc will post 3.64 earnings per share for the current year.
A number of research firms have recently weighed in on WP. Nomura upped their price objective on Worldpay from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Zacks Investment Research raised Worldpay from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. Wedbush upped their price objective on Worldpay from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, October 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Worldpay in a research note on Thursday, October 4th. Finally, Bank of America raised Worldpay from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $106.00 to $118.00 in a research note on Wednesday, October 3rd. Five equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Worldpay presently has a consensus rating of “Buy” and an average price target of $100.59.
Worldpay, Inc, through its subsidiary, Vantiv Holding, LLC, provides electronic payment processing services to merchants and financial institutions in the United States. It operates through two segments, Merchant Services and Financial Institution Services. The Merchant Services segment offers merchant acquiring and payment processing services, such as authorization and settlement, customer service, chargeback and retrieval processing, and interchange management to national merchants, and regional and small-to-mid sized businesses.
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