Waddell & Reed Financial, Inc. (WDR) Upgraded by ValuEngine to “Buy”
Waddell & Reed Financial, Inc. (NYSE:WDR) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Monday.
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Waddell & Reed Financial from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Royal Bank Of Canada set a $18.00 price target on shares of Waddell & Reed Financial and gave the stock a “sell” rating in a research report on Wednesday, August 2nd. Morgan Stanley reissued an “underweight” rating and issued a $15.00 price target (up previously from $14.00) on shares of Waddell & Reed Financial in a report on Monday, July 10th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $16.50 price target on shares of Waddell & Reed Financial in a report on Friday, June 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $18.00 price objective on shares of Waddell & Reed Financial in a research report on Wednesday, June 28th. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Waddell & Reed Financial has a consensus rating of “Hold” and a consensus price target of $18.06.
Waddell & Reed Financial (WDR) traded up 1.10% during mid-day trading on Monday, reaching $20.29. The company’s stock had a trading volume of 669,839 shares. Waddell & Reed Financial has a 12 month low of $15.02 and a 12 month high of $22.45. The stock’s 50 day moving average is $18.59 and its 200 day moving average is $18.28. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 12.75 and a beta of 2.04.
Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $285.25 million. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. Waddell & Reed Financial’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts predict that Waddell & Reed Financial will post $1.45 EPS for the current year.
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In related news, VP Benjamin R. Clouse sold 5,903 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.01, for a total value of $118,119.03. Following the completion of the transaction, the vice president now directly owns 25,845 shares of the company’s stock, valued at approximately $517,158.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan W. Kosloff sold 25,076 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $19.40, for a total transaction of $486,474.40. Following the completion of the transaction, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in WDR. Sterneck Capital Management LLC raised its stake in shares of Waddell & Reed Financial by 5.7% in the 2nd quarter. Sterneck Capital Management LLC now owns 228,783 shares of the asset manager’s stock valued at $4,319,000 after purchasing an additional 12,422 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Waddell & Reed Financial in the second quarter valued at about $341,000. Argent Capital Management LLC bought a new stake in shares of Waddell & Reed Financial in the second quarter valued at about $1,001,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Waddell & Reed Financial in the second quarter valued at about $173,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Waddell & Reed Financial in the second quarter valued at about $265,000. Hedge funds and other institutional investors own 96.37% of the company’s stock.
Waddell & Reed Financial Company Profile
Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting, and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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