WisdomTree Investments, Inc. (WETF) Upgraded to Buy by BidaskClub
WisdomTree Investments, Inc. (NASDAQ:WETF) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
Several other equities research analysts have also recently weighed in on the company. Goldman Sachs Group, Inc. (The) upped their target price on WisdomTree Investments from $7.00 to $8.00 and gave the stock a “sell” rating in a report on Wednesday, March 15th. Zacks Investment Research cut WisdomTree Investments from a “hold” rating to a “sell” rating in a report on Wednesday, March 15th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $8.00 target price on shares of WisdomTree Investments in a report on Monday, April 10th. Finally, Citigroup Inc. raised WisdomTree Investments from a “neutral” rating to a “buy” rating and set a $10.50 price target for the company in a research report on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.64.
Shares of WisdomTree Investments (NASDAQ:WETF) traded up 1.43% during mid-day trading on Friday, reaching $9.93. The company had a trading volume of 3,063,883 shares. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 66.20 and a beta of 3.03. WisdomTree Investments has a 1-year low of $7.87 and a 1-year high of $13.32. The firm has a 50-day moving average price of $9.28 and a 200-day moving average price of $9.80.
WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings data on Friday, April 28th. The asset manager reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. WisdomTree Investments had a return on equity of 11.15% and a net margin of 9.83%. The company had revenue of $54.60 million during the quarter, compared to analysts’ expectations of $53.38 million. During the same quarter in the previous year, the business earned $0.09 EPS. WisdomTree Investments’s revenue was down 10.3% compared to the same quarter last year. Equities analysts expect that WisdomTree Investments will post $0.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, May 8th. WisdomTree Investments’s dividend payout ratio is presently 200.01%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in WisdomTree Investments by 25,214.1% in the first quarter. BlackRock Inc. now owns 13,399,791 shares of the asset manager’s stock valued at $121,669,000 after buying an additional 13,346,857 shares in the last quarter. Clarity Capital KCPS Ltd. acquired a new stake in WisdomTree Investments during the first quarter valued at about $530,215,000. Vanguard Group Inc. boosted its stake in WisdomTree Investments by 15.5% in the first quarter. Vanguard Group Inc. now owns 10,381,851 shares of the asset manager’s stock valued at $94,267,000 after buying an additional 1,392,507 shares during the period. TimesSquare Capital Management LLC boosted its stake in WisdomTree Investments by 67.9% in the first quarter. TimesSquare Capital Management LLC now owns 7,383,500 shares of the asset manager’s stock valued at $67,042,000 after buying an additional 2,987,215 shares during the period. Finally, Morgan Stanley raised its position in WisdomTree Investments by 6.7% in the first quarter. Morgan Stanley now owns 6,928,870 shares of the asset manager’s stock valued at $62,914,000 after buying an additional 432,552 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.
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 funds that track its own indexes, funds that track third party indexes and actively managed funds. It operates as an exchange traded products sponsor and asset manager providing investment advisory services in the United States, Europe, Canada and Japan.
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