Wise Group (NASDAQ:WSE) Stock Moved Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Wise Group (NASDAQ:WSE) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

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

Wise Group Trading Up 2.7%

Shares of NASDAQ:WSE traded up $0.30 on Friday, reaching $11.23. The company had a trading volume of 17,894,202 shares, compared to its average volume of 2,137,703. Wise Group has a 52-week low of $10.36 and a 52-week high of $17.47. The business has a 50 day moving average of $11.47. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

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

Insider Buying and Selling

In other Wise Group news, CFO Emmanuel Francois Je Thomassin sold 6,040 shares of the 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 completion of the sale, the chief financial officer directly owned 4,853 shares in the company, valued at approximately $57,022.75. This trade represents a 55.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 the 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 approximately $29,568,146.50. This trade represents a 2.26% decrease in their ownership of the stock. 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. Insiders have sold a total of 106,626 shares of company stock worth $1,252,856 in the last ninety days.

Hedge Funds Weigh In On Wise Group

Several hedge funds have recently modified their holdings of the stock. Ninety One UK Ltd boosted its stake in Wise Group by 37.4% in the 3rd quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company’s stock worth $82,629,000 after purchasing an additional 1,959,751 shares in the last quarter. Amundi purchased a new stake in Wise Group during the 2nd quarter worth approximately $58,328,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Wise Group by 9.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 4,771,451 shares of the company’s stock valued at $54,347,000 after purchasing an additional 392,895 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Wise Group by 26.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,324,727 shares of the company’s stock valued at $38,174,000 after purchasing an additional 697,743 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Wise Group in the third quarter worth $35,522,000.

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.