WisdomTree Investments Inc. (WETF) Shares Down 3.2%
WisdomTree Investments Inc. (NASDAQ:WETF)’s share price fell 3.2% during mid-day trading on Wednesday . The stock traded as low as $10.35 and last traded at $10.45, with a volume of 1,118,769 shares. The stock had previously closed at $10.79.
Several brokerages have issued reports on WETF. Credit Suisse Group AG set a $14.00 price objective on WisdomTree Investments and gave the stock a “buy” rating in a report on Saturday. Zacks Investment Research raised WisdomTree Investments from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. Jefferies Group reaffirmed a “buy” rating on shares of WisdomTree Investments in a report on Friday, August 5th. Bank of America Corp. lowered WisdomTree Investments from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, Citigroup Inc. reissued a “sell” rating and set a $6.00 price target on shares of WisdomTree Investments in a report on Tuesday, June 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.23.
The stock’s 50 day moving average price is $10.28 and its 200-day moving average price is $10.96. The company has a market capitalization of $1.39 billion, a P/E ratio of 24.06 and a beta of 2.67.
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WisdomTree Investments (NASDAQ:WETF) last released its quarterly earnings data on Friday, July 29th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. The firm had revenue of $55.98 million for the quarter, compared to analyst estimates of $55.01 million. WisdomTree Investments had a net margin of 21.72% and a return on equity of 26.72%. WisdomTree Investments’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts anticipate that WisdomTree Investments Inc. will post $0.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, August 8th. This represents a $0.32 annualized dividend and a yield of 3.09%. WisdomTree Investments’s dividend payout ratio (DPR) is 72.73%.
In other WisdomTree Investments news, CEO Jonathan L. Steinberg acquired 250,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average price of $10.16 per share, for a total transaction of $2,540,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Bossone acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were acquired at an average price of $9.90 per share, for a total transaction of $495,000.00. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in WisdomTree Investments by 25.9% in the first quarter. Wellington Management Group LLP now owns 19,218,783 shares of the company’s stock valued at $219,671,000 after buying an additional 3,956,785 shares during the period. Jackson Square Partners LLC raised its stake in WisdomTree Investments by 141.3% in the second quarter. Jackson Square Partners LLC now owns 4,975,229 shares of the company’s stock valued at $48,707,000 after buying an additional 2,913,362 shares during the period. Capital World Investors raised its stake in WisdomTree Investments by 109.9% in the second quarter. Capital World Investors now owns 3,400,000 shares of the company’s stock valued at $33,286,000 after buying an additional 1,780,000 shares during the period. Macquarie Group Ltd. raised its stake in WisdomTree Investments by 98.8% in the second quarter. Macquarie Group Ltd. now owns 3,074,614 shares of the company’s stock valued at $30,100,000 after buying an additional 1,528,032 shares during the period. Finally, Shanda Payment Holdings Ltd. acquired a new stake in WisdomTree Investments during the first quarter valued at $16,875,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.
About WisdomTree Investments
WisdomTree Investments, Inc is an asset management company that focuses on exchange-traded funds (ETFs). The Company’s family of ETFs includes fundamentally weighted funds that track its own indexes, funds that track third party indexes and actively managed funds. The Company operates through exchange traded products (ETP) sponsor and asset manager providing investment advisory services segment.
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