Revenue Update on Waddell & Reed Financial(NYSE:WDR)

Waddell & Reed Financial(NYSE:WDR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $319.21M. Analysts estimated a revenue of $313.38M. Earnings per share were $0.59. Analysts had estimated an EPS of $0.48.

In a different note, On Jul 13, 2016, Citigroup said it Upgrades its rating on Waddell & Reed Financial. The shares have been rated ‘Neutral’ by the firm. On Jul 11, 2016, Jefferies said it Maintains its rating on Waddell & Reed Financial. In the research note, the firm Lowers the price-target to $23.00 per share. The shares have been rated ‘Hold’ by the firm.

Waddell & Reed Financial (WDR) made into the market gainers list on Fridays trading session with the shares advancing 1.44% or 0.26 points. Due to strong positive momentum, the stock ended at $18.26, which is also near the day’s high of $18.28. The stock began the session at $17.96 and the volume stood at 11,56,305 shares. The 52-week high of the shares is $45.75 and the 52 week low is $15.7. The company has a current market capitalization of $1,488 M and it has 8,14,89,802 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Aug 4, 2015, James M Raines (director) sold 3,000 shares at $44.96 per share price.Also, 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.

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