WisdomTree Investments Inc. (WETF) Receives “Sell” Rating from Citigroup Inc.
WisdomTree Investments Inc. (NASDAQ:WETF)‘s stock had its “sell” rating reissued by stock analysts at Citigroup Inc. in a research report issued on Tuesday.
Several other brokerages have also recently commented on WETF. Zacks Investment Research raised WisdomTree Investments from a “sell” rating to a “hold” rating in a research report on Saturday, June 25th. Jefferies Group reissued a “buy” rating and set a $13.00 price target on shares of WisdomTree Investments in a research report on Tuesday, July 5th. Credit Suisse Group AG set a $14.00 price target on WisdomTree Investments and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Bank of America Corp. cut WisdomTree Investments from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. 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 presently has an average rating of “Hold” and a consensus price target of $13.85.
WisdomTree Investments (NASDAQ:WETF) traded down 0.42% during mid-day trading on Tuesday, hitting $9.46. The stock had a trading volume of 2,071,738 shares. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 21.95 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 stock’s 50 day moving average price is $10.19 and its 200 day moving average price is $10.67.
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/2016/10/18/wisdomtree-investments-inc-wetf-receives-sell-rating-from-citigroup-inc.html
WisdomTree Investments (NASDAQ:WETF) last posted 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 business earned $55.98 million during the quarter, compared to the consensus estimate of $55.01 million. WisdomTree Investments had a return on equity of 26.72% and a net margin of 21.72%. WisdomTree Investments’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Analysts forecast that WisdomTree Investments will post $0.23 EPS for the current year.
In other news, Director Anthony Bossone bought 50,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were bought at an average price of $9.90 per share, for a total transaction of $495,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan L. Steinberg bought 250,000 shares of the stock in a transaction dated 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 disclosure for this purchase can be found here. Insiders own 16.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Rational Advisors LLC purchased a new position in shares of WisdomTree Investments during the second quarter worth $113,000. MSI Financial Services Inc raised its position in WisdomTree Investments by 36.4% in the third quarter. MSI Financial Services Inc now owns 10,959 shares of the company’s stock worth $113,000 after buying an additional 2,925 shares during the period. Amalgamated Bank raised its position in WisdomTree Investments by 10.4% in the second quarter. Amalgamated Bank now owns 13,840 shares of the company’s stock worth $144,000 after buying an additional 1,304 shares during the period. Carleon Capital Partners LLC raised its position in WisdomTree Investments by 14.2% in the second quarter. Carleon Capital Partners LLC now owns 14,861 shares of the company’s stock worth $145,000 after buying an additional 1,843 shares during the period. Finally, Victory Capital Management Inc. raised its position in WisdomTree Investments by 17.5% in the second quarter. Victory Capital Management Inc. now owns 15,655 shares of the company’s stock worth $153,000 after buying an additional 2,337 shares during the period. Institutional investors 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.
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.