Trexquant Investment LP Sells 20,205 Shares of Waddell & Reed Financial, Inc. (WDR)

Trexquant Investment LP reduced its position in Waddell & Reed Financial, Inc. (NYSE:WDR) by 57.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,149 shares of the asset manager’s stock after selling 20,205 shares during the period. Trexquant Investment LP’s holdings in Waddell & Reed Financial were worth $321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Neuburgh Advisers LLC lifted its stake in Waddell & Reed Financial by 34.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock valued at $198,000 after acquiring an additional 2,816 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Waddell & Reed Financial by 7.1% during the 3rd quarter. Victory Capital Management Inc. now owns 45,598 shares of the asset manager’s stock valued at $966,000 after acquiring an additional 3,023 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Waddell & Reed Financial by 34.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 12,621 shares of the asset manager’s stock valued at $227,000 after acquiring an additional 3,200 shares in the last quarter. Tyers Asset Management LLC lifted its stake in Waddell & Reed Financial by 34.2% during the 2nd quarter. Tyers Asset Management LLC now owns 14,056 shares of the asset manager’s stock valued at $253,000 after acquiring an additional 3,584 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its stake in Waddell & Reed Financial by 34.2% during the 2nd quarter. Flinton Capital Management LLC now owns 17,068 shares of the asset manager’s stock valued at $307,000 after acquiring an additional 4,352 shares in the last quarter.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, October 8th. Citigroup set a $20.00 price objective on Waddell & Reed Financial and gave the company a “hold” rating in a research note on Wednesday, October 31st. Royal Bank of Canada set a $17.00 price objective on Waddell & Reed Financial and gave the company a “sell” rating in a research note on Wednesday, October 31st. Finally, Credit Suisse Group lowered their target price on Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 31st. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Waddell & Reed Financial presently has a consensus rating of “Sell” and a consensus price target of $20.38.

In other news, Director Jerry W. Walton sold 9,427 shares of Waddell & Reed Financial stock in a transaction on Friday, November 16th. The stock was sold at an average price of $19.05, for a total transaction of $179,584.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan W. Kosloff sold 19,614 shares of Waddell & Reed Financial stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $20.42, for a total value of $400,517.88. Following the sale, the director now owns 22,184 shares in the company, valued at $452,997.28. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

NYSE WDR opened at $18.93 on Friday. The firm has a market cap of $1.50 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.65. Waddell & Reed Financial, Inc. has a one year low of $17.53 and a one year high of $23.82. The company has a current ratio of 4.04, a quick ratio of 1.80 and a debt-to-equity ratio of 0.11.

Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, October 30th. The asset manager reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The company had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $293.63 million. Waddell & Reed Financial had a return on equity of 20.10% and a net margin of 14.11%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. As a group, sell-side analysts forecast that Waddell & Reed Financial, Inc. will post 2.22 EPS for the current fiscal year.

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About Waddell & Reed Financial

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

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Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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