Wise Group plc $WSE Shares Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its Wise Group position by 4,488.4% in the third quarter, acquiring 224,960 additional shares and bringing its total to 229,972 shares valued at approximately $2.6 million.
• Wise Group shares opened at $10.87, near the lower end of their 12-month range of $10.36 to $17.47. The company reported quarterly earnings of $0.12 per share on revenue of $576.48 million.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a consensus price target of $16.94, although insiders sold 106,626 shares worth about $1.25 million over the past 90 days.

Asset Management One Co. Ltd. grew its position in Wise Group plc (NASDAQ:WSE - Free Report) by 4,488.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,972 shares of the company's stock after buying an additional 224,960 shares during the quarter. Asset Management One Co. Ltd. owned 0.18% of Wise Group worth $2,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WSE. Ninety One UK Ltd lifted its stake 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 worth $82,629,000 after purchasing an additional 1,959,751 shares during the last quarter. Amundi bought a new position in shares of Wise Group in the 2nd quarter valued at $58,328,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Wise Group by 9.0% in 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 during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Wise Group in the 2nd quarter valued at $14,441,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Wise Group during the 2nd quarter worth $3,154,000.

Wise Group Trading Up 1.9%

Wise Group stock opened at $10.87 on Tuesday. The company has a 50-day moving average price of $11.82. Wise Group plc has a 12 month low of $10.36 and a 12 month high of $17.47. 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 (NASDAQ:WSE - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The company reported $0.12 earnings per share for the quarter. The firm had revenue of $576.48 million for the quarter. As a group, equities analysts predict that Wise Group plc 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 business'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 $70,970.00. Following the sale, the chief financial officer directly owned 4,853 shares of the company's stock, valued at $57,022.75. The trade was a 55.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the chief technology officer directly owned 979,030 shares in the company, valued at $11,503,602.50. The trade was a 4.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Wall Street Analyst Weigh In

WSE has been the subject of several recent analyst reports. Weiss Ratings upgraded Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. lifted their target price on Wise Group from $17.30 to $17.70 and gave the company an "overweight" rating in a research report on Friday, October 16th. Wall Street Zen cut Wise Group from a "hold" rating to a "sell" rating in a research report on Saturday, October 17th. Canaccord Genuity Group initiated coverage on Wise Group in a research note on Wednesday, September 2nd. They set a "buy" rating for the company. Finally, Monness Crespi & Hardt raised shares of Wise Group to a "strong-buy" rating in a report on Friday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $16.94.

Wise Group 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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