Waddell & Reed (WDR) is Downgraded by Credit Suisse to Underperform , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.
Waddell & Reed Financial, Inc. has dropped 15.58% during the last 3-month period . Year-to-Date the stock performance stands at -40.14%.
Waddell & Reed Financial, Inc. (NYSE:WDR) has lost 2.75% during the past week and dropped 19.9% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 1.94%. Waddell & Reed Financial, Inc. (NYSE:WDR) has underperformed the index by 18.03% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Waddell & Reed Financial, Inc. (NYSE:WDR) : On Thursday heightened volatility was witnessed in Waddell & Reed Financial, Inc. (NYSE:WDR) which led to swings in the share price. The shares opened for trading at $28.38 and hit $29.11 on the upside , eventually ending the session at $28.66, with a gain of 0.32% or 0.09 points. The heightened volatility saw the trading volume jump to 581,725 shares. The 52-week high of the share price is $51.8 and the company has a market cap of $2,379 million. The 52-week low of the share price is at $27.815 .
Currently the company Insiders own 3.6% of Waddell & Reed Financial, Inc. shares according to the proxy statements. Institutional Investors own 85.82% of Waddell & Reed Financial, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -19.97%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange,The director of Waddell & Reed Financial Inc, Raines James M sold 3,000 shares at $44.96 on August 3, 2015. The Insider selling transaction had a total value worth of $134,880. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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. The Company conducts business through its subsidiaries. The Company operates its investment advisory business through its subsidiary companies, primarily Waddell & Reed Investment Management Company (WRIMCO), a registered investment adviser, Ivy Investment Management Company (IICO), the registered investment adviser for Ivy Funds (the Ivy Funds) and Legend Advisory Corporation, the registered investment adviser for Legend. Its underwriting and distribution revenues consist of commissions derived from sales of investment and insurance products, Rule 12b-1 asset-based service and distribution fees, distribution fees on certain variable products, fees earned on fee-based asset allocation products, and related advisory services.