RBC Capital Keeps a Sell Rating on Waddell & Reed (WDR)

In a report released yesterday, Kenneth Lee from RBC Capital maintained a Sell rating on Waddell & Reed (WDR), with a price target of $13.00. The company’s shares closed last Thursday at $14.39.

According to TipRanks.com, Lee is a 4-star analyst with an average return of 4.6% and a 60.2% success rate. Lee covers the Financial sector, focusing on stocks such as Sixth Street Specialty Lending, BrightSphere Investment Group, and Victory Capital Holdings.

Currently, the analyst consensus on Waddell & Reed is a Moderate Sell with an average price target of $14.00, implying a -4.4% downside from current levels. In a report issued on July 14, Citigroup also maintained a Sell rating on the stock with a $11.50 price target.

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Based on Waddell & Reed’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $264 million and net profit of $21.99 million. In comparison, last year the company earned revenue of $259 million and had a net profit of $32.05 million.

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Waddell & Reed Financial, Inc. provides investment advisory, investment management, investment product underwriting, distribution and administrative services. It operates through distinct distribution business channels: Unaffiliated channel, Wealth Management channel and Institutional channel. The company was founded by Chauncey Waddell and Cameron Reed in 1937 and is headquartered in Overland Park, KS.

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