Waddell & Reed Financial Sees Large Increase in Short Interest (WDR)
Shares of Waddell & Reed Financial (NYSE:WDR) saw a large increase in short interest during the month of May. As of May 30th, there was short interest totalling 3,580,610 shares, an increase of 43.7% from the May 15th total of 2,491,313 shares, StockRatingsNetwork reports. Based on an average daily trading volume, of 1,072,247 shares, the days-to-cover ratio is presently 3.3 days. Approximately 4.4% of the company’s stock are sold short.
A number of research firms have recently commented on WDR. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Waddell & Reed Financial in a research note on Tuesday. They now have a $71.00 price target on the stock, down previously from $85.00. Separately, analysts at Evercore Partners initiated coverage on shares of Waddell & Reed Financial in a research note on Friday, May 30th. They set an “equal weight” rating and a $63.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.19.
Waddell & Reed Financial (NYSE:WDR) opened at 62.10 on Wednesday. Waddell & Reed Financial has a 52 week low of $43.06 and a 52 week high of $76.46. The stock’s 50-day moving average is $61.92 and its 200-day moving average is $66.44. The company has a market cap of $5.293 billion and a price-to-earnings ratio of 19.54.
Waddell & Reed Financial (NYSE:WDR) last released its earnings data on Tuesday, April 29th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ 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.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Friday, July 11th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, July 9th.
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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