Wise Group (NASDAQ:WSE) Shares Gap Up Following Analyst Upgrade

Wise Group plc (NASDAQ:WSE)’s stock price gapped up prior to trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $10.93, but opened at $11.72. Wise Group shares last traded at $11.8450, with a volume of 1,933,522 shares traded.

Several other research firms have also weighed in on WSE. Canaccord Genuity Group initiated coverage on shares of Wise Group in a research note on Wednesday, September 2nd. They set a “buy” rating on the stock. UBS Group lifted their target price on Wise Group from $17.25 to $18.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on Wise Group from $17.30 to $17.70 and gave the company an “overweight” rating in a report on Friday, October 16th. Weiss Ratings upgraded shares of Wise Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. Finally, Monness Crespi & Hardt raised Wise Group to a “strong-buy” rating in a report on Friday, October 16th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.12.

Insider Buying and Selling at Wise Group

In other news, insider Nilan Peiris sold 58,262 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $684,578.50. Following the completion of the sale, the insider owned 2,516,438 shares in the company, valued at approximately $29,568,146.50. This represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Emmanuel Francois Je Thomassin sold 6,040 shares of Wise Group stock in a transaction on Friday, October 16th. The stock was sold at an average price of $11.75, for a total value of $70,970.00. Following the completion of the transaction, the chief financial officer owned 4,853 shares in the company, valued at $57,022.75. The trade was a 55.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 106,626 shares of company stock valued at $1,252,856.

Hedge Funds Weigh In On Wise Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP lifted its stake in Wise Group by 3,254.4% in the third quarter. Marshall Wace LLP now owns 348,892 shares of the company’s stock valued at $3,974,000 after acquiring an additional 338,491 shares during the last quarter. Wealth Alliance LLC boosted its stake in shares of Wise Group by 90.1% during the 3rd quarter. Wealth Alliance LLC now owns 23,532 shares of the company’s stock worth $268,000 after acquiring an additional 11,153 shares in the last quarter. Te Ahumairangi Investment Management Ltd bought a new stake in Wise Group during the third quarter worth approximately $7,679,000. Edmond DE Rothschild Holding S.A. acquired a new position in Wise Group during the third quarter valued at approximately $35,522,000. Finally, GW&K Investment Management LLC bought a new position in shares of Wise Group in the third quarter valued at approximately $23,303,000.

Wise Group Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $11.47.

Wise Group (NASDAQ:WSE) last posted its quarterly earnings results on Friday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $726.55 million during the quarter. On average, analysts anticipate that Wise Group plc will post 0.56 earnings per share for the current year.

Wise Group Company Profile

Wise Group AB is a Swedish human resources and staffing company that provides recruitment, consulting and related workforce services to employers. Its services have covered areas including information technology, finance, human resources, sales and marketing. The company serves businesses in Sweden through specialist brands and teams focused on different professional fields. Its offerings include permanent recruitment, interim staffing and consulting support. Wise Group was founded in 1999 and is headquartered in Stockholm, Sweden.