208,531 Shares of Wise Group plc $WSE Purchased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management purchased 208,531 Wise Group shares in the second quarter, valued at approximately $2.48 million and representing about 0.17% of the company.
• Several other major institutions, including Amundi, Allianz Asset Management and Manufacturers Life Insurance, also initiated positions in Wise Group during the quarter.
• Wise Group reported quarterly earnings of $0.12 per share on $576.48 million in revenue. Analysts maintain a consensus “Moderate Buy” rating with a $16.52 price target, compared with the stock’s opening price of $11.67.

Envestnet Asset Management Inc. purchased a new stake in shares of Wise Group plc (NASDAQ:WSE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 208,531 shares of the company's stock, valued at approximately $2,484,000. Envestnet Asset Management Inc. owned about 0.17% of Wise Group at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WSE. Amundi purchased a new stake in shares of Wise Group during the 2nd quarter valued at about $58,328,000. Allianz Asset Management GmbH purchased a new stake in Wise Group during the second quarter valued at approximately $14,441,000. The Manufacturers Life Insurance Company bought a new stake in shares of Wise Group in the 2nd quarter valued at approximately $3,154,000. Citadel Advisors LLC bought a new stake in shares of Wise Group in the 2nd quarter valued at approximately $2,695,000. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Wise Group in the 2nd quarter worth approximately $2,514,000.

Wise Group Stock Up 2.0%

Shares of WSE opened at $11.67 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $12.27. Wise Group plc has a fifty-two week low of $10.36 and a fifty-two week high of $17.47.

Wise Group (NASDAQ:WSE - Get Free Report) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.12 earnings per share for the quarter. The company had revenue of $576.48 million for the quarter. As a group, sell-side analysts anticipate that Wise Group plc will post 0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on WSE. Weiss Ratings lowered shares of Wise Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 18th. Morgan Stanley initiated coverage on shares of Wise Group in a research note on Monday, June 29th. They issued an "equal weight" rating and a $16.10 target price on the stock. Canaccord Genuity Group started coverage on shares of Wise Group in a report on Wednesday, September 2nd. They issued a "buy" rating for the company. Barclays upgraded shares of Wise Group to a "strong-buy" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Wise Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.52.

Wise Group Company Profile

Wise Group PLC is a technology company. Its product offering includes Wise Account, Wise Business and Wise Platform. Wise Account is its solution for people with cross-border financial needs. Wise Business offers product along with business-specific functionalities designed to enable business customers. Wise Platform provide financial services for banks, financial institutions and enterprises. Wise Group PLC is based in LONDON, United Kingdom.

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