WisdomTree Investments Inc. (WETF) Upgraded to Hold at Zacks Investment Research
WisdomTree Investments Inc. (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “INDIVIDUAL INVESTOR GROUP INC. is an information services company that publishes and markets Individual Investor magazine and Individual Investor’s Special Situations Report. In addition, the Company, through wholly owned subsidiaries, is the investment manager of private investment funds. “
Other equities research analysts also recently issued reports about the company. Jefferies Group reissued a “buy” rating and issued a $13.00 target price on shares of WisdomTree Investments in a report on Friday, June 17th. Credit Suisse Group AG set a $14.00 target price on WisdomTree Investments and gave the stock a “buy” rating in a report on Wednesday, September 28th. Bank of America Corp. downgraded 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 issued a $6.00 target price 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 given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.85.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/wisdomtree-investments-inc-wetf-upgraded-to-hold-at-zacks-investment-research.html
Shares of WisdomTree Investments (NASDAQ:WETF) opened at 10.23 on Friday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 23.74 and a beta of 2.65. WisdomTree Investments has a one year low of $8.70 and a one year high of $22.33. The company has a 50-day moving average price of $10.24 and a 200 day moving average price of $10.75.
WisdomTree Investments (NASDAQ:WETF) last released its earnings results on Friday, July 29th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. WisdomTree Investments had a return on equity of 26.72% and a net margin of 21.72%. The business had revenue of $55.98 million for the quarter, compared to the consensus estimate of $55.01 million. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. Equities research analysts expect that WisdomTree Investments will post $0.23 earnings per share for the current year.
In related news, Director Anthony Bossone purchased 50,000 shares of WisdomTree Investments stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average price of $9.90 per share, for a total transaction of $495,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan L. Steinberg purchased 100,000 shares of WisdomTree Investments stock in a transaction on Wednesday, September 14th. The stock was bought at an average price of $10.23 per share, with a total value of $1,023,000.00. The disclosure for this purchase can be found here. 16.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. State Treasurer State of Michigan boosted its stake in shares of WisdomTree Investments by 0.4% in the second quarter. State Treasurer State of Michigan now owns 45,400 shares of the company’s stock worth $444,000 after buying an additional 200 shares during the last quarter. Comerica Bank boosted its stake in shares of WisdomTree Investments by 0.3% in the second quarter. Comerica Bank now owns 126,409 shares of the company’s stock worth $1,308,000 after buying an additional 424 shares during the last quarter. Hancock Holding Co. boosted its stake in shares of WisdomTree Investments by 1.0% in the second quarter. Hancock Holding Co. now owns 50,476 shares of the company’s stock worth $494,000 after buying an additional 512 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of WisdomTree Investments by 2.1% in the second quarter. Legal & General Group Plc now owns 28,156 shares of the company’s stock worth $268,000 after buying an additional 575 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of WisdomTree Investments by 1.3% in the second quarter. Prudential Financial Inc. now owns 70,700 shares of the company’s stock worth $692,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.
WisdomTree Investments Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for WisdomTree Investments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WisdomTree Investments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.