Wise Group plc $WSE Holdings Increased by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Loring Wolcott & Coolidge increased its Wise Group stake by 9% in the third quarter, adding 392,895 shares to own 4.77 million shares, or about 3.81% of the company, valued at $54.3 million.
• Other institutions also built positions, including Ninety One UK, which increased its stake by 37.4%, while Amundi, Allianz Asset Management, Manufacturers Life Insurance and Citadel Advisors initiated new positions.
• Wise Group shares opened at $11.07, well below the analyst consensus target of $16.94. Analysts maintain an overall “Buy” rating, although recent insider sales were reported as transactions to cover tax withholding on vested equity awards.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Wise Group plc (NASDAQ:WSE - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,771,451 shares of the company's stock after acquiring an additional 392,895 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 3.81% of Wise Group worth $54,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WSE. Ninety One UK Ltd raised its position in Wise Group by 37.4% during the third quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company's stock valued at $82,629,000 after purchasing an additional 1,959,751 shares during the period. Amundi purchased a new position in shares of Wise Group in the 2nd quarter worth approximately $58,328,000. Allianz Asset Management GmbH purchased a new position in shares of Wise Group in the 2nd quarter worth approximately $14,441,000. The Manufacturers Life Insurance Company purchased a new position in shares of Wise Group in the 2nd quarter worth approximately $3,154,000. Finally, Citadel Advisors LLC bought a new position in shares of Wise Group during the 2nd quarter valued at approximately $2,695,000.

Wise Group Price Performance

Shares of WSE stock opened at $11.07 on Monday. Wise Group plc has a 1-year low of $10.36 and a 1-year high of $17.47. The company's 50-day moving average is $12.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07.

Wise Group (NASDAQ:WSE - Get Free Report) last announced its earnings results on Thursday, June 25th. The company reported $0.12 EPS for the quarter. The firm had revenue of $576.48 million during the quarter. On average, analysts forecast that Wise Group plc will post 0.56 EPS for the current fiscal year.

Insider Activity

In other news, insider Nilan Peiris sold 58,262 shares of Wise Group stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $11.75, for a total value of $684,578.50. Following the transaction, the insider owned 2,516,438 shares of the company's stock, valued at $29,568,146.50. The trade was a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Harsh Sinha sold 42,324 shares of the business'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 $497,307.00. Following the transaction, the chief technology officer owned 979,030 shares of the company's stock, valued at approximately $11,503,602.50. This trade represents a 4.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 106,626 shares of company stock worth $1,252,856.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WSE. Wall Street Zen cut shares of Wise Group from a "hold" rating to a "sell" rating in a research report on Saturday, October 17th. Canaccord Genuity Group initiated coverage on shares of Wise Group in a report on Wednesday, September 2nd. They issued a "buy" rating for the company. Weiss Ratings raised shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Wise Group from $17.30 to $17.70 and gave the stock an "overweight" rating in a research note on Friday, October 16th. Finally, Morgan Stanley assumed coverage on Wise Group in a report on Monday, June 29th. They set an "equal weight" rating and a $16.10 target price for the company. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $16.94.

About Wise Group

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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