Wise Group (NASDAQ:WSE) Insider Nilan Peiris Sells 58,262 Shares of Stock

Key Points

• Insider sale: Nilan Peiris sold 58,262 Wise Group shares for approximately $684,579 to cover tax withholding on vested equity awards, reducing his holdings by 2.26% to 2,516,438 shares.
• Stock performance: WSE shares fell $0.03 to $10.95, near their one-year low of $10.36 and below the 50-day moving average of $12.18.
• Analyst outlook: Wise Group has a consensus “Moderate Buy” rating and an average price target of $16.94, despite mixed recent analyst actions including a new sell rating.

Wise Group plc (NASDAQ:WSE - Get Free Report) insider Nilan Peiris sold 58,262 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 value of $684,578.50. Following the completion of the sale, the insider owned 2,516,438 shares of the company's stock, valued at approximately $29,568,146.50. This represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wise Group Stock Performance

WSE stock traded down $0.03 during trading on Monday, hitting $10.95. The company had a trading volume of 3,117,050 shares, compared to its average volume of 2,275,641. Wise Group plc has a 1-year low of $10.36 and a 1-year high of $17.47. The company has a 50-day simple moving average of $12.18. 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 EPS for the quarter. The company had revenue of $576.48 million for the quarter. As a group, equities research analysts forecast that Wise Group plc will post 0.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 6th. Morgan Stanley initiated coverage on shares of Wise Group in a report on Monday, June 29th. They set an "equal weight" rating and a $16.10 price target for the company. Canaccord Genuity Group assumed coverage on Wise Group in a research note on Wednesday, September 2nd. They issued a "buy" rating for the company. Barclays raised shares of Wise Group to a "strong-buy" rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen downgraded Wise Group from a "hold" rating to a "sell" rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wise Group currently has an average rating of "Moderate Buy" and a consensus price target of $16.94.

Institutional Investors Weigh In On Wise Group

Several hedge funds and other institutional investors have recently modified their holdings of WSE. TD Waterhouse Canada Inc. bought a new position in Wise Group during the 2nd quarter worth approximately $49,000. Versant Capital Management Inc bought a new position in shares of Wise Group during the third quarter worth about $114,000. Two Sigma Securities LLC acquired a new stake in shares of Wise Group in the second quarter valued at approximately $125,000. Resolute Advisors LLC bought a new stake in Wise Group during the 2nd quarter valued at $192,000. Finally, jvl associates llc acquired a new stake in Wise Group in the third quarter worth about $230,000.

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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