Wanda Sports Group (NYSE:WSG) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Wanda Sports Group (NYSE:WSG) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. They currently have $2.50 price objective on the stock.

According to Zacks, “Wanda Sports Group is a global sports events, media and marketing platform with significant intellectual property rights, long-term relationships and broad execution capabilities. They own, or otherwise have contractual rights to, an extensive portfolio of global, regional and national sports properties. “

Separately, Deutsche Bank upped their target price on shares of Wanda Sports Group from $7.00 to $8.00 and gave the stock a buy rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Wanda Sports Group currently has a consensus rating of Buy and an average price target of $5.00.

Shares of WSG stock opened at $2.12 on Friday. The firm has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $2.71. Wanda Sports Group has a 12 month low of $1.36 and a 12 month high of $6.24.

Wanda Sports Group (NYSE:WSG) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($2.13) EPS for the quarter. The business had revenue of $286.84 million for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Wanda Sports Group in the 4th quarter worth $43,000. Quinn Opportunity Partners LLC purchased a new position in shares of Wanda Sports Group in the 1st quarter worth about $95,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Wanda Sports Group in the 4th quarter worth about $297,000. Banque Cantonale Vaudoise purchased a new position in shares of Wanda Sports Group in the 4th quarter worth about $521,000. Finally, Canyon Capital Advisors LLC boosted its holdings in shares of Wanda Sports Group by 48.0% in the 4th quarter. Canyon Capital Advisors LLC now owns 357,842 shares of the company’s stock worth $877,000 after buying an additional 116,051 shares during the last quarter.

Wanda Sports Group Company Profile

Wanda Sports Group Company Limited operates as a sports events, media, and marketing platform worldwide. The company engages in the rights distribution, broadcast hosting, digital media and entertainment, program production, event operations and licensing, and brand development and sponsorship activities.

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