WisdomTree Investments Inc. (WETF) Upgraded to Hold by 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 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. “
WETF has been the topic of a number of other research reports. Jefferies Group reissued a “buy” rating and set a $13.00 price objective on shares of WisdomTree Investments in a research report on Tuesday, July 5th. Bank of America Corp. cut shares of WisdomTree Investments from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of WisdomTree Investments in a research report on Monday, August 1st. Finally, Citigroup Inc. reaffirmed a “sell” rating and issued a $6.00 price target on shares of WisdomTree Investments in a research report on Tuesday, June 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. WisdomTree Investments has a consensus rating of “Hold” and a consensus target price of $13.85.
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WisdomTree Investments (NASDAQ:WETF) opened at 10.23 on Friday. The firm has a market cap of $1.37 billion, a P/E ratio of 23.74 and a beta of 2.65. WisdomTree Investments has a 52-week low of $8.70 and a 52-week high of $22.33. The stock 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 quarterly earnings data on Friday, July 29th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $55.98 million for the quarter, compared to analysts’ expectations of $55.01 million. WisdomTree Investments had a net margin of 21.72% and a return on equity of 26.72%. The business’s revenue was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Equities analysts predict that WisdomTree Investments will post $0.23 earnings per share for the current fiscal year.
In related news, Director Anthony Bossone purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $9.90 per share, for a total transaction of $495,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan L. Steinberg purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were 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. Insiders own 16.10% of the company’s stock.
Several large investors have recently modified their holdings of WETF. Wellington Management Group LLP raised its stake in shares of 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 last quarter. Vanguard Group Inc. raised its stake in shares of WisdomTree Investments by 3.3% in the second quarter. Vanguard Group Inc. now owns 8,618,677 shares of the company’s stock valued at $84,377,000 after buying an additional 278,414 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of WisdomTree Investments by 4.5% in the second quarter. TimesSquare Capital Management LLC now owns 6,347,435 shares of the company’s stock valued at $62,141,000 after buying an additional 270,930 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of WisdomTree Investments by 2.4% in the second quarter. BlackRock Fund Advisors now owns 5,790,448 shares of the company’s stock valued at $56,688,000 after buying an additional 136,499 shares during the last quarter. Finally, Jackson Square Partners LLC raised its stake in shares of 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 last quarter. 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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