Wise Group (NASDAQ:WSE) Shares Gap Up - Should You Buy?

Key Points

• Wise Group shares rose 8.1%, opening at $11.72 after a previous close of $10.93 and later trading at $11.845.
• Analyst sentiment is positive: MarketBeat reports a consensus “Buy” rating and an average price target of $16.94, with UBS and JPMorgan recently raising their targets.
• The company reported quarterly EPS of $0.12 and revenue of $726.55 million. Some insiders sold shares to cover taxes on vested equity awards, while several institutional investors increased their holdings.

Wise Group plc (NASDAQ:WSE - Get Free Report)'s share price gapped up before the market opened on Friday. The stock had previously closed at $10.93, but opened at $11.72. Wise Group shares last traded at $11.8450, with a volume of 1,933,522 shares traded.

Wall Street Analysts Forecast Growth

WSE has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Wise Group from $16.00 to $17.25 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Monness Crespi & Hardt upgraded Wise Group to a "strong-buy" rating in a research report on Friday, October 16th. Canaccord Genuity Group started coverage on Wise Group in a research note on Wednesday, September 2nd. They issued a "buy" rating on the stock. JPMorgan Chase & Co. increased their target price on Wise Group from $17.30 to $17.70 and gave the stock an "overweight" rating in a report on Friday, October 16th. Finally, Weiss Ratings upgraded shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $16.94.

Wise Group Stock Up 8.1%

The business's fifty day moving average price is $11.51. 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 issued its earnings results on Friday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $726.55 million for the quarter. On average, equities analysts expect that Wise Group plc will post 0.56 EPS for the current fiscal year.

Insider Activity at Wise Group

In related news, CTO Harsh Sinha sold 42,324 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 $497,307.00. Following the completion of the transaction, the chief technology officer owned 979,030 shares in the company, valued at approximately $11,503,602.50. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the chief financial officer owned 4,853 shares of the company's stock, valued at approximately $57,022.75. This represents a 55.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 106,626 shares of company stock worth $1,252,856 in the last ninety days.

Hedge Funds Weigh In On Wise Group

A number of hedge funds and other institutional investors have recently made changes to their positions in WSE. Ninety One UK Ltd raised its stake in Wise Group by 37.4% during the 3rd quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company's stock worth $82,629,000 after buying an additional 1,959,751 shares during the period. Amundi acquired a new position in Wise Group in the second quarter valued at about $58,328,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Wise Group by 9.0% in the third 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 acquiring an additional 392,895 shares during the period. Russell Investments Group Ltd. grew its stake in Wise Group by 26.6% in the third quarter. Russell Investments Group Ltd. now owns 3,324,727 shares of the company's stock valued at $38,174,000 after acquiring an additional 697,743 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Wise Group in the third quarter worth about $35,522,000.

About Wise Group

Wise Group AB is a Swedish human resources and staffing company that provides recruitment, consulting and related workforce services to employers. Its services have covered areas including information technology, finance, human resources, sales and marketing. The company serves businesses in Sweden through specialist brands and teams focused on different professional fields. Its offerings include permanent recruitment, interim staffing and consulting support. Wise Group was founded in 1999 and is headquartered in Stockholm, Sweden.

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