#3 Wabash National Corporation (NYSE:WNC)
Shares Owned by Weatherbie Capital LLC (as of September 30): 744,663
Value of Holding (as of September 30): $36.18 million
Wabash National Corporation (NYSE:WNC) had a terrible third quarter in terms of stock performance, but Weatherbie Capital enlarged his holdings in the company by 123,835 shares during the turbulent three-month period. Meanwhile, the shares of the producer of commercial trucking equipment have gained 23% since the beginning of the current quarter, and are nearly 3% in the green year-to-date. It is worth mentioning that both the trailing and forward P/E ratios of the company suggest that its shares are undervalued at the moment. Just recently, Wabash’s management has raised its full-year non-GAAP adjusted earnings guidance to the range of $1.38 to $1.43 per diluted share, marking a year-on-year increase of 58% at the midpoint of the range. Joel Greenblatt’s Gotham Asset Management held a 2.23 million-share position in Wabash National Corporation (NYSE:WNC) at the end of the June quarter.
#2 Wayfair Inc. (NYSE:W)
Shares Owned by Weatherbie Capital LLC (as of September 30): 1.27 million shares
Value of Holding (as of September 30): $44.41 million
Wayfair Inc. (NYSE:W) gained a few spots on Matthew A. Weatherbie’s list of top stock picks during the third quarter as his investment firm lifted its position in the e-commerce company by 266,515 shares. The shares of Wayfair have almost doubled since the beginning of the year, and some analysts believe that they are poised to go higher in the forthcoming months. Just recently, financial services company Raymond James upgraded the stock to ‘Strong Buy’ from ‘Outperform’ and raised its prices target to $60 from $55, citing the company’s stronger-than-expected financial results for the third quarter. The freshly-upped price target yields an upside of at least 50%. Eric Bannasch’s Cadian Capital acquired a 897,293-share stake in Wayfair Inc. (NYSE:W) during the second quarter.
#1 BofI Holding Inc. (NASDAQ:BOFI)
Shares Owned by Weatherbie Capital LLC (as of September 30): 426,552 shares
Value of Holding (as of September 30): $54.95 million
BofI Holding Inc. (NASDAQ:BOFI) was Weatherbie Capital’s largest equity holding at the end of the third quarter, representing 6.37% of its entire equity portfolio. Even so, the Boston-based investment firm cut its position in the holding company of BofI Federal Bank by 144,675 shares during the September quarter. The shares of the company had been delivering a great performance until a highly-scrutinized scandal sparked in October. In mid-October, an article written by The New York Times disclosed that a former internal auditor of the bank filed a lawsuit alleging that he was fired “after revealing what he believed to be wrongdoing at the bank to federal regulators and management at Bank of Internet”. However, the stock is still 22% in the green this year, despite plunging significantly in October. Jim Simons’ Renaissance Technologies was bullish on BofI Holding Inc. (NASDAQ:BOFI) at the end of the second quarter, holding 175,000 shares.