Waddell & Reed Financial (WDR) Shares are Down -0.95%

Waddell & Reed Financial (WDR) has risen sharply, recording gains of 0.75% in the past 4 weeks. However, the stock has corrected -0.95% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.37% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

Waddell & Reed Financial, Inc. has dropped 2.37% during the last 3-month period . Year-to-Date the stock performance stands at -30.08%. The stock has recorded a 20-day Moving Average of 0.26% and the 50-Day Moving Average is 4.02%.


Waddell & Reed Financial (NYSE:WDR): The stock opened at $18.71 on Friday but the bulls could not build on the opening and the stock topped out at $19.05 for the day. The stock traded down to $18.63 during the day, due to lack of any buying support eventually closed down at $18.77 with a loss of -0.32% for the day. The stock had closed at $18.83 on the previous day. The total traded volume was 1,155,816 shares.

Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Waddell & Reed Financial (NYSE:WDR). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $16 per share to $17 per share. The rating by the firm was issued on July 27, 2016.

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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