Wise Group (NASDAQ:WSE) Releases Earnings Results

Wise Group (NASDAQ:WSE) released its quarterly earnings data on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $175.45 million for the quarter.

Wise Group Stock Down 2.0%

Wise Group stock opened at $10.93 on Friday. The firm has a 50-day simple moving average of $11.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 1.07. Wise Group has a 12-month low of $10.36 and a 12-month high of $17.47.

Insider Transactions at Wise Group

In related news, CFO Emmanuel Francois Je Thomassin sold 6,040 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 $70,970.00. Following the transaction, the chief financial officer owned 4,853 shares in the company, valued at $57,022.75. This trade represents a 55.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Wise Group 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 owned 2,516,438 shares of the company’s stock, 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 three months, insiders have sold 106,626 shares of company stock worth $1,252,856.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WSE. Ninety One UK Ltd lifted 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 buying an additional 1,959,751 shares during the period. Amundi acquired a new position in shares of Wise Group in the 2nd quarter valued at $58,328,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Wise Group by 9.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 4,771,451 shares of the company’s stock worth $54,347,000 after purchasing an additional 392,895 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Wise Group by 26.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,324,727 shares of the company’s stock worth $38,174,000 after purchasing an additional 697,743 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Wise Group during the third quarter worth $35,522,000.

Analyst Upgrades and Downgrades

WSE has been the topic of a number of recent research reports. Canaccord Genuity Group started coverage on shares of Wise Group in a research note on Wednesday, September 2nd. They set a “buy” rating on the stock. Monness Crespi & Hardt upgraded shares of Wise Group to a “strong-buy” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Wise Group from $17.30 to $17.70 and gave the company an “overweight” rating in a research note on Friday, October 16th. Wall Street Zen downgraded shares of Wise Group from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.94.

About Wise Group

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.