West Corporation (NASDAQ:WSTC) Sees Significant Decrease in Short Interest

West Corporation (NASDAQ:WSTC) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 1,028,638 shares, a decline of 26.6% from the July 31st total of 1,401,668 shares. Based on an average daily volume of 372,135 shares, the short-interest ratio is presently 2.8 days. Currently, 2.3% of the company’s stock are short sold.

Shares of West Corporation (WSTC) traded up 0.04% during mid-day trading on Friday, reaching $23.38. 900,106 shares of the company were exchanged. The company’s 50 day moving average price is $23.36 and its 200 day moving average price is $23.74. The firm has a market capitalization of $1.96 billion, a PE ratio of 9.25 and a beta of 1.59. West Corporation has a 12 month low of $19.64 and a 12 month high of $28.57.

West Corporation (NASDAQ:WSTC) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. West Corporation had a net margin of 9.39% and a negative return on equity of 59.08%. The firm had revenue of $574.39 million for the quarter, compared to the consensus estimate of $579.40 million. Equities analysts anticipate that West Corporation will post $2.90 earnings per share for the current year.

In other news, insider Rodney J. Kempkes sold 3,385 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $23.36, for a total transaction of $79,073.60. Following the completion of the sale, the insider now owns 52,126 shares in the company, valued at $1,217,663.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rodney J. Kempkes sold 3,382 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $23.27, for a total transaction of $78,699.14. Following the sale, the insider now owns 58,893 shares of the company’s stock, valued at approximately $1,370,440.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,149 shares of company stock valued at $236,742. Insiders own 4.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of WSTC. James Investment Research Inc. bought a new stake in shares of West Corporation during the 1st quarter worth $148,000. Americafirst Capital Management LLC bought a new stake in shares of West Corporation during the 2nd quarter worth $160,000. Karp Capital Management Corp bought a new stake in shares of West Corporation during the 1st quarter worth $212,000. Bowling Portfolio Management LLC bought a new stake in shares of West Corporation during the 2nd quarter worth $213,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of West Corporation during the 2nd quarter worth $223,000. 67.38% of the stock is owned by institutional investors.

Several research firms recently issued reports on WSTC. Zacks Investment Research raised shares of West Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, May 19th. BidaskClub cut shares of West Corporation from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.88.

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About West Corporation

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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