Insider Selling: Waddell & Reed Financial CMO Sells 17,217 Shares of Stock (WDR)
Waddell & Reed Financial (NYSE:WDR) CMO Thomas W. Butch sold 17,217 shares of the stock on the open market in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.02, for a total transaction of $1,016,147.34. Following the sale, the chief marketing officer now directly owns 248 shares in the company, valued at approximately $14,637. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
WDR has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Waddell & Reed Financial from $78.00 to $83.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of Waddell & Reed Financial from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 30th. They now have a $80.00 price target on the stock, down previously from $82.00. Finally, analysts at Gabelli upgraded shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. They now have a $131.40 price target on the stock, up previously from $4.70. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $84.77.
Shares of Waddell & Reed Financial (NYSE:WDR) traded up 0.64% on Wednesday, hitting $59.80. 1,145,452 shares of the company’s stock traded hands. Waddell & Reed Financial has a one year low of $41.53 and a one year high of $76.46. The stock’s 50-day moving average is $67.43 and its 200-day moving average is $66.94. The company has a market cap of $5.097 billion and a price-to-earnings ratio of 18.53.
Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.03. The company had revenue of $390.40 million for the quarter, compared to the consensus estimate of $388.87 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts expect that Waddell & Reed Financial will post $3.75 EPS for the current fiscal year.
Waddell & Reed Financial, Inc is engaged in providing investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds and institutional and separately managed accounts.
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