Waddell & Reed Financial (WDR) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.45. The company posted revenue of $319.20 million in the period, compared to analysts expectations of $313.31 million. The company’s revenue was down -19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
Waddell & Reed Financial opened for trading at $18.13 and hit $18.65 on the upside on Wednesday, eventually ending the session at $18.53, with a gain of 3.00% or 0.54 points. The heightened volatility saw the trading volume jump to 9,80,587 shares. Company has a market cap of $1,510 M.
In a different news, on Aug 4, 2015, James M Raines (director) sold 3,000 shares at $44.96 per share price. According to the SEC, on May 26, 2015, Dennis E Logue (director) sold 2,700 shares at $48.30 per share price. On Feb 11, 2015, Michael L Avery (President) purchased 5,500 shares at $48.64 per share price, according to the Form-4 filing with the securities and exchange commission.
Waddell & Reed Financial Inc. is a mutual fund and asset management company. The Company provides investment management investment advisory investment product underwriting and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds Ivy Funds Ivy Funds Variable Insurance Portfolios InvestEd Portfolios 529 college savings and Selector Management Fund SICAV and its Ivy Global Investors sub-funds and institutional and separately managed accounts. The Company operates its business through a distribution network. Its retail products are distributed through its Wholesale channel which includes third parties such as other broker/dealers registered investment advisors and various retirement platforms or through its Advisors channel sales force of independent financial advisors. It also markets investment advisory services to institutional investors either directly or through consultants in its Institutional channel.