Fred Alger Management Inc. Raises Position in WisdomTree Investments, Inc. (WETF)
Fred Alger Management Inc. increased its position in shares of WisdomTree Investments, Inc. (NASDAQ:WETF) by 14.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,734,088 shares of the company’s stock after buying an additional 472,723 shares during the period. Fred Alger Management Inc. owned 2.79% of WisdomTree Investments worth $41,598,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of WisdomTree Investments by 98.8% in the second quarter. Macquarie Group Ltd. now owns 3,074,614 shares of the company’s stock worth $30,100,000 after buying an additional 1,528,032 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of WisdomTree Investments by 127.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,388,325 shares of the company’s stock worth $13,592,000 after buying an additional 777,671 shares in the last quarter. Capital Fund Management S.A. raised its stake in shares of WisdomTree Investments by 6,413.3% in the third quarter. Capital Fund Management S.A. now owns 732,339 shares of the company’s stock worth $7,536,000 after buying an additional 743,939 shares in the last quarter. ShearLink Capital LLC bought a new stake in shares of WisdomTree Investments during the fourth quarter worth $7,163,000. Finally, Arrowpoint Asset Management LLC raised its stake in shares of WisdomTree Investments by 13.2% in the fourth quarter. Arrowpoint Asset Management LLC now owns 5,478,810 shares of the company’s stock worth $61,034,000 after buying an additional 637,075 shares in the last quarter. 96.38% of the stock is owned by institutional investors and hedge funds.
Shares of WisdomTree Investments, Inc. (NASDAQ:WETF) traded down 1.35% during trading on Thursday, reaching $8.80. 1,422,876 shares of the company’s stock were exchanged. The stock has a market cap of $1.18 billion, a PE ratio of 46.32 and a beta of 3.25. The stock’s 50 day moving average price is $10.32 and its 200-day moving average price is $10.33. WisdomTree Investments, Inc. has a 52-week low of $8.00 and a 52-week high of $13.72.
WisdomTree Investments (NASDAQ:WETF) last issued its quarterly earnings results on Friday, February 3rd. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.03. WisdomTree Investments had a return on equity of 13.61% and a net margin of 11.92%. The firm had revenue of $50.80 million for the quarter, compared to the consensus estimate of $50.85 million. During the same period last year, the company posted $0.15 EPS. The business’s revenue was down 33.6% on a year-over-year basis. On average, equities research analysts forecast that WisdomTree Investments, Inc. will post $0.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, February 13th. WisdomTree Investments’s dividend payout ratio is 160.00%.
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A number of equities analysts have issued reports on the stock. Credit Suisse Group reaffirmed a “buy” rating and issued a $11.00 price objective on shares of WisdomTree Investments in a research note on Monday, November 7th. Jefferies Group LLC set a $12.00 price objective on shares of WisdomTree Investments and gave the company a “buy” rating in a research note on Tuesday, November 29th. Bank of America Corporation cut shares of WisdomTree Investments from a “neutral” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research note on Friday, December 16th. Citigroup Inc. reaffirmed a “sell” rating and issued a $6.50 price objective on shares of WisdomTree Investments in a research note on Monday, October 31st. Finally, Zacks Investment Research cut shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. WisdomTree Investments has an average rating of “Hold” and an average target price of $11.00.
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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