Waddell & Reed Financial (WDR) has risen sharply, recording gains of 3.44% in the past 4 weeks. However, the stock has corrected -2.72% 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 2.38% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.89% and the 50-Day Moving Average is 3.89%. Waddell & Reed Financial (NYSE:WDR): On Fridays trading session , Opening price of the stock was $19.16 with an intraday high of $19.2468. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $18.86. However, the stock managed to close at $18.95, a loss of 1.35% for the day. On the previous day, the stock had closed at $19.21. The total traded volume of the day was 1,285,907 shares.
The company Insiders own 3.7% of Waddell & Reed Financial shares according to the proxy statements. Institutional Investors own 83.37% of Waddell & Reed Financial shares. Also, Equity Analysts at the Citigroup maintains the rating on Waddell & Reed Financial (NYSE:WDR). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency 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.