Zacks Investment Research Upgrades WisdomTree Investments Inc. (WETF) to “Hold”
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. “
Several other research analysts have also recently issued reports on the company. Citigroup Inc. reaffirmed a sell rating and issued a $6.00 price target on shares of WisdomTree Investments in a report on Tuesday, June 21st. Jefferies Group reissued a buy rating and set a $13.00 target price on shares of WisdomTree Investments in a research note on Tuesday, July 5th. Bank of America Corp. downgraded shares of WisdomTree Investments from a buy rating to a neutral rating in a research note on Tuesday, June 28th. Finally, Credit Suisse Group AG reissued a buy rating on shares of WisdomTree Investments in a research note on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. WisdomTree Investments has an average rating of Hold and a consensus price target of $13.85.
WisdomTree Investments (NASDAQ:WETF) opened at 10.23 on Friday. WisdomTree Investments has a 52-week low of $8.70 and a 52-week high of $22.33. The firm has a 50-day moving average price of $10.24 and a 200 day moving average price of $10.75. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 23.74 and a beta of 2.65.
WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $55.98 million for the quarter, compared to analysts’ expectations of $55.01 million. WisdomTree Investments had a return on equity of 26.72% and a net margin of 21.72%. The firm’s revenue was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, equities research analysts predict that WisdomTree Investments will post $0.23 EPS for the current year.
In other WisdomTree Investments news, Director Anthony Bossone acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average cost of $9.90 per share, for a total transaction of $495,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan L. Steinberg acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was acquired at an average price of $10.23 per share, with a total value of $1,023,000.00. The disclosure for this purchase can be found here. 16.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Commonwealth Equity Services Inc boosted its stake 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 worth $621,000 after buying an additional 5,267 shares in the last quarter. Teachers Advisors Inc. boosted its stake 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 worth $2,199,000 after buying an additional 3,832 shares in the last quarter. BlackRock Inc. boosted its stake in shares of WisdomTree Investments by 11.0% in the first quarter. BlackRock Inc. now owns 45,995 shares of the company’s stock worth $526,000 after buying an additional 4,550 shares in the last quarter. BlackRock Group LTD boosted its stake 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 worth $4,541,000 after buying an additional 27,245 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake 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 worth $38,557,000 after buying an additional 26,374 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.
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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