Wise Group (NASDAQ:WSE) Announces Quarterly Earnings Results

Wise Group (NASDAQ:WSE) announced its earnings results on Thursday. The company reported $0.12 EPS for the quarter, FiscalAI reports. The company had revenue of $175.45 million for the quarter.

Wise Group Price Performance

WSE stock traded down $0.22 during midday trading on Thursday, hitting $10.93. The stock had a trading volume of 2,169,154 shares, compared to its average volume of 2,208,921. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. Wise Group has a 1-year low of $10.36 and a 1-year high of $17.47. The company’s fifty day moving average price is $11.51.

Insider Buying and Selling at Wise Group

In other news, CTO Harsh Sinha sold 42,324 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were 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 of the company’s stock, valued at $11,503,602.50. This trade represents a 4.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 firm’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $684,578.50. Following the sale, the insider directly 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 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 three months, insiders have sold 106,626 shares of company stock valued at $1,252,856.

Hedge Funds Weigh In On Wise Group

A number of institutional investors and hedge funds have recently made changes to their positions in WSE. Public Sector Pension Investment Board lifted its position in shares of Wise Group by 0.8% during the third quarter. Public Sector Pension Investment Board now owns 399,585 shares of the company’s stock valued at $4,878,000 after purchasing an additional 3,219 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in Wise Group during the second quarter worth about $49,000. Cibc World Market Inc. boosted its holdings in Wise Group by 2.7% in the 3rd quarter. Cibc World Market Inc. now owns 188,669 shares of the company’s stock worth $2,149,000 after buying an additional 5,003 shares during the period. Versant Capital Management Inc bought a new position in shares of Wise Group in the third quarter worth $114,000. Finally, R Squared Ltd purchased a new position in Wise Group during the 3rd quarter valued at about $115,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WSE. Canaccord Genuity Group assumed coverage on Wise Group in a research note on Wednesday, September 2nd. They issued a “buy” rating for the company. UBS Group lifted their price objective on Wise Group from $16.00 to $17.25 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. Wall Street Zen cut Wise Group from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Monness Crespi & Hardt upgraded Wise Group to a “strong-buy” rating in a report on Friday, October 16th. Finally, JPMorgan Chase & Co. increased 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 equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.94.

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.