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

Shares of Wise Group plc (NASDAQ:WSE) gapped up before the market opened 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.

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

Insider Buying and Selling at Wise Group

In related news, CTO Harsh Sinha sold 42,324 shares of the company’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 $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 represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 company’s stock in a transaction dated Friday, October 16th. The shares were 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 $29,568,146.50. This represents a 2.26% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $1,252,856.

Hedge Funds Weigh In On Wise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. bought a new stake in shares of Wise Group in the 2nd quarter valued at about $49,000. Versant Capital Management Inc bought a new position in Wise Group during the 3rd quarter worth approximately $114,000. R Squared Ltd bought a new position in Wise Group during the 3rd quarter worth approximately $115,000. Two Sigma Securities LLC bought a new position in Wise Group during the 2nd quarter worth approximately $125,000. Finally, Global Retirement Partners LLC grew its holdings in Wise Group by 861.2% during the third quarter. Global Retirement Partners LLC now owns 13,024 shares of the company’s stock valued at $148,000 after purchasing an additional 11,669 shares during the period.

Wise Group Stock Performance

The stock’s fifty day moving average is $11.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07.

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