Wise Group plc $WSE Stock: Ninety One UK Ltd Grows Stake

Key Points

• Ninety One UK Ltd increased its Wise Group stake by 37.4% in the third quarter, adding 1.96 million shares to own 7.20 million shares, or 5.75% of the company, valued at approximately $82.6 million.
• Analyst sentiment is generally positive: Wise has an average “Moderate Buy” rating and a consensus price target of $16.84, compared with the stock’s recent price of $12.06.
• Wise reported quarterly earnings of $0.12 per share on revenue of $576.48 million, while the stock remains well below its 52-week high of $17.47.

Ninety One UK Ltd raised its stake in Wise Group plc (NASDAQ:WSE - Free Report) by 37.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,195,705 shares of the company's stock after buying an additional 1,959,751 shares during the quarter. Ninety One UK Ltd owned 5.75% of Wise Group worth $82,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WSE. TD Waterhouse Canada Inc. acquired a new position in shares of Wise Group during the 2nd quarter worth about $49,000. Versant Capital Management Inc bought a new stake in shares of Wise Group in the 3rd quarter valued at about $114,000. Two Sigma Securities LLC bought a new stake in shares of Wise Group in the 2nd quarter valued at about $125,000. Resolute Advisors LLC acquired a new stake in shares of Wise Group in the 2nd quarter valued at approximately $192,000. Finally, jvl associates llc acquired a new stake in shares of Wise Group in the 3rd quarter valued at approximately $230,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WSE shares. Wall Street Zen raised shares of Wise Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Barclays raised shares of Wise Group to a "strong-buy" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. cut their target price on shares of Wise Group from $17.50 to $17.30 and set an "overweight" rating on the stock in a report on Friday, July 17th. Weiss Ratings raised shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. Finally, Morgan Stanley began coverage on shares of Wise Group in a research report on Monday, June 29th. They set an "equal weight" rating and a $16.10 price target on the stock. Two 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 stock. Based on data from MarketBeat, Wise Group currently has an average rating of "Moderate Buy" and an average target price of $16.84.

Wise Group Stock Performance

WSE stock traded up $0.05 during mid-day trading on Thursday, hitting $12.06. 2,348,385 shares of the company were exchanged, compared to its average volume of 1,490,434. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50 day simple moving average of $12.25. Wise Group plc has a 1-year low of $10.36 and a 1-year high of $17.47.

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 company had revenue of $576.48 million during the quarter. On average, analysts expect that Wise Group plc will post 0.57 earnings per share for the current fiscal year.

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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