Wise Group (NASDAQ:WSE) Stock Price Up 2.3% - Here's What Happened

Key Points

• Wise Group shares rose 2.3% to $12.83 in mid-day trading, despite volume running 18% below its average.
• The company continued its recently announced £405 million share buyback, which could support earnings per share by reducing shares outstanding.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and a $16.52 average price target, above its current price.

Wise Group plc (NASDAQ:WSE - Get Free Report)'s share price rose 2.3% on Tuesday . The stock traded as high as $12.89 and last traded at $12.83. Approximately 987,240 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 1,202,908 shares. The stock had previously closed at $12.54.

Key Stories Impacting Wise Group

Here are the key news stories impacting Wise Group this week:

• Positive Sentiment: Wise continued executing its recently announced £405 million share buyback, repurchasing additional Class A shares. Buybacks can support earnings per share and signal management confidence by reducing the number of shares outstanding. Wise accelerates £405m buyback with fresh Class A share repurchases

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WSE shares. William Blair initiated coverage on Wise Group in a research note on Monday, May 11th. They set an "outperform" rating for the company. Barclays raised Wise Group to a "strong-buy" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded Wise Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. The Goldman Sachs Group raised Wise Group to a "strong-buy" rating in a report on Tuesday, May 12th. Finally, Morgan Stanley began coverage on shares of Wise Group in a research report on Monday, June 29th. They issued an "equal weight" rating and a $16.10 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.52.

Wise Group Stock Up 2.3%

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 company has a fifty day moving average of $11.92.

Wise Group (NASDAQ:WSE - Get Free Report) last issued its earnings results on Thursday, June 25th. The company reported $0.12 EPS for the quarter. The business had revenue of $576.48 million during the quarter. On average, research analysts predict that Wise Group plc will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Wise Group stock. Madison Asset Management LLC bought a new stake in shares of Wise Group plc (NASDAQ:WSE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 144,869 shares of the company's stock, valued at approximately $1,725,000. Madison Asset Management LLC owned 0.12% of Wise Group at the end of the most recent reporting period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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