Wall Street Zen cut shares of Wise Group (NASDAQ:WSE – Free Report) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.
WSE has been the subject of several other research reports. Canaccord Genuity Group started coverage on Wise Group in a research note on Wednesday, September 2nd. They set a “buy” rating for the company. Barclays raised shares of Wise Group to a “strong-buy” rating in a research note on Tuesday, July 7th. Morgan Stanley began coverage on shares of Wise Group in a research note on Monday, June 29th. They issued an “equal weight” rating and a $16.10 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Wise Group from $17.30 to $17.70 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group lifted their target price on shares of Wise Group from $16.00 to $17.25 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.94.
View Our Latest Research Report on WSE
Wise Group Stock Down 0.3%
Shares of WSE stock opened at $10.95 on Friday. The business’s fifty day moving average price is $12.18. Wise Group has a 1 year low of $10.36 and a 1 year high of $17.47. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.17.
Wise Group (NASDAQ:WSE – Get Free Report) last posted its earnings results on Thursday, June 25th. The company reported $0.12 EPS for the quarter. The firm had revenue of $576.48 million for the quarter. As a group, equities analysts forecast that Wise Group will post 0.56 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Emmanuel Francois Je Thomassin sold 6,040 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $70,970.00. Following the transaction, the chief financial officer directly owned 4,853 shares in the company, valued at approximately $57,022.75. This represents a 55.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Nilan Peiris sold 58,262 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $11.75, for a total value of $684,578.50. Following the completion of the sale, the insider directly owned 2,516,438 shares in the company, valued at approximately $29,568,146.50. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 106,626 shares of company stock worth $1,252,856.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Ninety One UK Ltd grew its holdings in Wise Group by 37.4% in the third quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company’s stock valued at $82,629,000 after purchasing an additional 1,959,751 shares during the period. Amundi acquired a new position in Wise Group during the second quarter worth approximately $58,328,000. Allianz Asset Management GmbH acquired a new position in Wise Group during the second quarter worth approximately $14,441,000. The Manufacturers Life Insurance Company acquired a new position in Wise Group during the second quarter worth approximately $3,154,000. Finally, Citadel Advisors LLC purchased a new position in Wise Group during the second quarter worth approximately $2,695,000.
About Wise Group
Wise Group PLC is a technology company. Its product offering includes Wise Account, Wise Business and Wise Platform. Wise Account is its solution for people with cross-border financial needs. Wise Business offers product along with business-specific functionalities designed to enable business customers. Wise Platform provide financial services for banks, financial institutions and enterprises. Wise Group PLC is based in LONDON, United Kingdom.
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