Waddell & Reed Financial (WDR) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Oct 17, 2016.
Many Wall Street Analysts have commented on Waddell & Reed Financial. Shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform” and Lowered the Price Target to $ 26 from a previous price target of $29 .
On the company’s financial health, Waddell & Reed Financial reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.45. The company had revenue of $319.20 million for the quarter, 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 closed down -0.24 points or -1.36% at $17.45 with 6,07,171 shares getting traded on Friday. Post opening the session at $17.98, the shares hit an intraday low of $17.33 and an intraday high of $18.05 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.