WisdomTree Investments Inc. (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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 also recently weighed in on WETF. Credit Suisse Group AG set a $14.00 price objective on WisdomTree Investments and gave the company a “buy” rating in a report on Saturday, September 17th. Jefferies Group restated a “buy” rating and issued a $13.00 price objective on shares of WisdomTree Investments in a report on Friday, June 17th. Citigroup Inc. restated a “sell” rating and issued a $6.00 price objective on shares of WisdomTree Investments in a report on Tuesday, June 21st. Finally, Bank of America Corp. downgraded WisdomTree Investments from a “buy” rating to a “neutral” rating in a 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 issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.85.
Shares of WisdomTree Investments (NASDAQ:WETF) opened at 10.23 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 23.74 and a beta of 2.65. The stock has a 50 day moving average price of $10.24 and a 200-day moving average price of $10.75. WisdomTree Investments has a one year low of $8.70 and a one year high of $22.33.
WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.07 earnings per share for the quarter, beating 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 in the prior year, the business posted $0.18 earnings per share. On average, equities research analysts expect that WisdomTree Investments will post $0.23 EPS for the current year.
In other WisdomTree Investments news, Director Anthony Bossone purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were acquired at an average price of $9.90 per share, with a total value of $495,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jonathan L. Steinberg purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was acquired at an average cost of $10.16 per share, for a total transaction of $2,540,000.00. The disclosure for this purchase can be found here. 16.10% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in WETF. Commonwealth Equity Services Inc boosted its position in shares of WisdomTree Investments by 10.7% in the first quarter. Commonwealth Equity Services Inc now owns 54,314 shares of the company’s stock valued at $621,000 after buying an additional 5,267 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of WisdomTree Investments by 2.0% in the first quarter. Teachers Advisors Inc. now owns 192,432 shares of the company’s stock valued at $2,199,000 after buying an additional 3,832 shares during the last quarter. BlackRock Inc. boosted its position in shares of WisdomTree Investments by 11.0% in the first quarter. BlackRock Inc. now owns 45,995 shares of the company’s stock valued at $526,000 after buying an additional 4,550 shares during the last quarter. BlackRock Group LTD boosted its position in shares of WisdomTree Investments by 7.4% in the first quarter. BlackRock Group LTD now owns 397,195 shares of the company’s stock valued at $4,541,000 after buying an additional 27,245 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of WisdomTree Investments by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,373,281 shares of the company’s stock valued at $38,557,000 after buying an additional 26,374 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.
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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