WisdomTree Investments (WETF) Cut to “Hold” at Zacks Investment Research
WisdomTree Investments (NASDAQ:WETF) was downgraded by Zacks Investment Research from a “buy” 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. “
A number of other research firms have also commented on WETF. Jefferies Group reaffirmed a “buy” rating and set a $15.00 price target on shares of WisdomTree Investments in a research report on Thursday. BidaskClub raised WisdomTree Investments from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Deutsche Bank started coverage on WisdomTree Investments in a research report on Tuesday, October 17th. They set a “buy” rating and a $13.00 price target on the stock. Keefe, Bruyette & Woods raised WisdomTree Investments from an “underperform” rating to a “mkt perform” rating in a research report on Tuesday, November 14th. Finally, Northland Securities reaffirmed a “hold” rating and set a $12.00 price target on shares of WisdomTree Investments in a research report on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.94.
WisdomTree Investments (NASDAQ:WETF) last released its quarterly earnings results on Friday, October 27th. The asset manager reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company had revenue of $57.99 million for the quarter, compared to analyst estimates of $57.89 million. WisdomTree Investments had a return on equity of 15.47% and a net margin of 12.98%. WisdomTree Investments’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. sell-side analysts expect that WisdomTree Investments will post 0.25 earnings per share for the current fiscal year.
In related news, Director Frank Salerno sold 50,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $11.71, for a total transaction of $585,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.10% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Beacon Capital Management bought a new position in shares of WisdomTree Investments during the fourth quarter worth about $0. Everence Capital Management Inc. bought a new position in WisdomTree Investments in the third quarter valued at approximately $103,000. Penserra Capital Management LLC bought a new position in WisdomTree Investments in the second quarter valued at approximately $107,000. MSI Financial Services Inc grew its stake in WisdomTree Investments by 36.4% in the third quarter. MSI Financial Services Inc now owns 10,959 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 2,925 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in WisdomTree Investments in the third quarter valued at approximately $113,000. Institutional investors and hedge funds own 89.41% of the company’s stock.
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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 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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