Wall Street Zen Upgrades Wise Group (NASDAQ:WSE) to Hold

Wise Group (NASDAQ:WSE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

WSE has been the subject of a number of other research reports. Canaccord Genuity Group started coverage on shares of Wise Group in a research report on Wednesday, September 2nd. They set a “buy” rating for the company. Monness Crespi & Hardt upgraded shares of Wise Group to a “strong-buy” rating in a report on Friday, October 16th. UBS Group boosted their price target on shares of Wise Group from $17.25 to $18.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings raised shares of Wise Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Finally, 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 report on Friday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Wise Group currently has an average rating of “Buy” and an average price target of $17.12.

Wise Group Stock Performance

WSE stock opened at $11.23 on Friday. 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. The business has a 50 day simple moving average of $11.47.

Wise Group (NASDAQ:WSE) last released its quarterly earnings data on Friday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $726.55 million for the quarter. Equities analysts predict that Wise Group will post 0.56 EPS for the current year.

Insiders Place Their Bets

In other Wise Group news, insider Nilan Peiris sold 58,262 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $11.75, for a total transaction of $684,578.50. Following the completion of the transaction, the insider owned 2,516,438 shares in the company, valued at $29,568,146.50. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Harsh Sinha sold 42,324 shares of the business’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $497,307.00. Following the completion of the sale, the chief technology officer owned 979,030 shares in the company, valued at approximately $11,503,602.50. This trade represents a 4.14% 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. Insiders have sold a total of 106,626 shares of company stock valued at $1,252,856 in the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of Wise Group by 3,254.4% in the 3rd quarter. Marshall Wace LLP now owns 348,892 shares of the company’s stock valued at $3,974,000 after purchasing an additional 338,491 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of Wise Group by 90.1% in the 3rd quarter. Wealth Alliance LLC now owns 23,532 shares of the company’s stock worth $268,000 after purchasing an additional 11,153 shares during the period. Te Ahumairangi Investment Management Ltd purchased a new stake in shares of Wise Group in the 3rd quarter worth approximately $7,679,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of 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 during the third quarter valued at approximately $23,303,000.

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.