WisdomTree Investments Inc. (WETF) Shares Down 2.4%
WisdomTree Investments Inc. (NASDAQ:WETF) shares dropped 2.4% during mid-day trading on Thursday . The stock traded as low as $11.66 and last traded at $11.67, with a volume of 889,260 shares. The stock had previously closed at $11.96.
WETF has been the topic of several research analyst reports. Zacks Investment Research lowered shares of WisdomTree Investments from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th. Jefferies Group cut their target price on shares of WisdomTree Investments to $13.00 in a research note on Tuesday, April 12th. Morgan Stanley reissued a “hold” rating and set a $12.00 target price on shares of WisdomTree Investments in a research note on Monday, May 2nd. Credit Suisse Group AG reissued an “outperform” rating and set a $11.89 target price (down from $17.00) on shares of WisdomTree Investments in a research note on Thursday, May 26th. Finally, TheStreet lowered shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a research note on Thursday, May 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.04.
The stock has a market capitalization of $1.59 billion and a P/E ratio of 20.41. The company’s 50 day moving average is $10.54 and its 200 day moving average is $11.39.
WisdomTree Investments (NASDAQ:WETF) last issued its earnings results on Friday, April 29th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm earned $60.90 million during the quarter, compared to analysts’ expectations of $60.69 million. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Analysts expect that WisdomTree Investments Inc. will post $0.27 EPS for the current year.
Several hedge funds and institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position in shares of WisdomTree Investments by 6.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 64,173 shares of the company’s stock valued at $1,006,000 after buying an additional 3,612 shares during the last quarter. Stevens Capital Management LP increased its position in shares of WisdomTree Investments by 429.6% in the fourth quarter. Stevens Capital Management LP now owns 66,676 shares of the company’s stock valued at $1,045,000 after buying an additional 54,085 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its stake in WisdomTree Investments by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 73,825 shares of the company’s stock valued at $1,158,000 after buying an additional 25,053 shares during the period. Whittier Trust Co. boosted its stake in WisdomTree Investments by 1.0% in the fourth quarter. Whittier Trust Co. now owns 82,125 shares of the company’s stock valued at $1,288,000 after buying an additional 850 shares during the period. Finally, Airain ltd bought a new stake in WisdomTree Investments during the fourth quarter valued at $1,382,000.
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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