Waddell & Reed (NYSE:WDR) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed a “sell” rating and set a $20.00 price target on shares of Waddell & Reed in a research report on Wednesday, January 31st. Morgan Stanley increased their price objective on shares of Waddell & Reed from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 13th. Zacks Investment Research lowered shares of Waddell & Reed from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 13th. Bank of America set a $20.00 price objective on shares of Waddell & Reed and gave the stock a “sell” rating in a research note on Tuesday, January 30th. Finally, Citigroup upgraded shares of Waddell & Reed from a “sell” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Waddell & Reed has a consensus rating of “Hold” and a consensus target price of $20.75.
Shares of Waddell & Reed opened at $19.67 on Thursday, Marketbeat.com reports. The company has a current ratio of 4.27, a quick ratio of 1.59 and a debt-to-equity ratio of 0.11. Waddell & Reed has a one year low of $16.36 and a one year high of $23.82. The stock has a market cap of $1.58 billion, a PE ratio of 10.24 and a beta of 1.95.
Waddell & Reed (NYSE:WDR) last issued its quarterly earnings results on Tuesday, May 1st. The asset manager reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Waddell & Reed had a net margin of 11.76% and a return on equity of 17.97%. The business had revenue of $297.60 million for the quarter, compared to analysts’ expectations of $288.38 million. During the same quarter last year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. analysts anticipate that Waddell & Reed will post 2.14 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Waddell & Reed by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 37,889 shares of the asset manager’s stock worth $846,000 after acquiring an additional 2,299 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Waddell & Reed by 7.9% in the first quarter. Thrivent Financial for Lutherans now owns 55,970 shares of the asset manager’s stock valued at $1,131,000 after purchasing an additional 4,077 shares during the period. Swiss National Bank increased its stake in shares of Waddell & Reed by 3.1% in the first quarter. Swiss National Bank now owns 145,500 shares of the asset manager’s stock valued at $2,941,000 after purchasing an additional 4,400 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Waddell & Reed by 12.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 39,572 shares of the asset manager’s stock valued at $800,000 after purchasing an additional 4,447 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of Waddell & Reed in the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 97.43% of the company’s stock.
About Waddell & Reed
Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.
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