Zacks Investment Research Upgrades Wanda Sports Group (NYSE:WSG) to “Buy”

Wanda Sports Group (NYSE:WSG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, reports. The firm currently has a $2.50 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 20.19% from the company’s previous close.

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 lifted 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 assigned a buy rating to the company. Wanda Sports Group has an average rating of “Buy” and a consensus target price of $5.00.

WSG stock traded up $0.01 during mid-day trading on Friday, hitting $2.08. The company had a trading volume of 61,122 shares, compared to its average volume of 260,915. Wanda Sports Group has a 12 month low of $1.36 and a 12 month high of $6.24. The stock’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.73.

Wanda Sports Group (NYSE:WSG) last announced its quarterly earnings data 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 have recently added to or reduced their stakes in the business. DG Capital Management LLC bought a new stake in shares of Wanda Sports Group in the 1st quarter worth approximately $2,153,000. Madison Avenue Partners LP bought a new stake in shares of Wanda Sports Group in the 1st quarter worth approximately $1,637,000. Alyeska Investment Group L.P. lifted its holdings in shares of Wanda Sports Group by 74.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 501,904 shares of the company’s stock worth $1,230,000 after acquiring an additional 214,708 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Wanda Sports Group in the 4th quarter worth approximately $992,000. Finally, Goldman Sachs Group Inc. bought a new stake in Wanda Sports Group during the 4th quarter valued at $924,000.

About Wanda Sports Group

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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