Loeb Partners Corp Trims Holdings in Worldpay Inc (WP)

Loeb Partners Corp decreased its position in Worldpay Inc (NYSE:WP) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the business services provider’s stock after selling 5,000 shares during the quarter. Loeb Partners Corp’s holdings in Worldpay were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in WP. Laurion Capital Management LP bought a new position in shares of Worldpay during the 2nd quarter valued at approximately $151,768,000. FMR LLC increased its position in shares of Worldpay by 32.7% during the 3rd quarter. FMR LLC now owns 6,186,896 shares of the business services provider’s stock valued at $626,546,000 after purchasing an additional 1,523,722 shares during the last quarter. LA Financiere DE L Echiquier bought a new position in shares of Worldpay during the 3rd quarter valued at approximately $86,167,000. Flossbach Von Storch AG grew its position in Worldpay by 13.8% in the 2nd quarter. Flossbach Von Storch AG now owns 6,507,637 shares of the business services provider’s stock valued at $532,195,000 after acquiring an additional 790,060 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in Worldpay by 88.5% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,415,248 shares of the business services provider’s stock valued at $115,739,000 after acquiring an additional 664,400 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:WP opened at $81.64 on Friday. Worldpay Inc has a 1 year low of $70.56 and a 1 year high of $103.50. The stock has a market cap of $25.48 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Worldpay (NYSE:WP) last announced its earnings results on Thursday, November 8th. The business services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Worldpay had a positive return on equity of 11.66% and a negative net margin of 3.99%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. Research analysts expect that Worldpay Inc will post 3.6 EPS for the current fiscal year.

Several equities analysts have commented on WP shares. Bank of America raised Worldpay from a “neutral” rating to a “buy” rating and upped their price objective for the company from $106.00 to $118.00 in a research report on Wednesday, October 3rd. Mizuho upgraded Worldpay from a “neutral” rating to a “buy” rating and upped their target price for the stock from $88.00 to $125.00 in a report on Wednesday, September 12th. KeyCorp upped their target price on Worldpay from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $115.00 target price on shares of Worldpay in a report on Thursday, October 4th. Finally, Nomura upped their target price on Worldpay from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Worldpay has an average rating of “Buy” and a consensus target price of $101.03.

In other news, insider Rohinton Kalifa sold 75,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $100.77, for a total value of $7,557,750.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Mark L. Heimbouch sold 29,676 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $98.26, for a total value of $2,915,963.76. The disclosure for this sale can be found here. Insiders sold 127,324 shares of company stock worth $12,695,256 over the last three months. Corporate insiders own 1.05% of the company’s stock.

WARNING: This news story was originally posted by WKRB News and is owned by of WKRB News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.wkrb13.com/2018/11/23/loeb-partners-corp-trims-holdings-in-worldpay-inc-wp.html.

Worldpay Profile

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.

Featured Story: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding WP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Worldpay Inc (NYSE:WP).

Institutional Ownership by Quarter for Worldpay (NYSE:WP)

Receive News & Ratings for Worldpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worldpay and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply