Zacks Investment Research Lowers WisdomTree Investments (WETF) to Hold
Zacks Investment Research cut shares of WisdomTree Investments (NASDAQ:WETF) from a buy rating to a hold rating in a research note released 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 analysts have also weighed in on the company. Northland Securities restated a hold rating and set a $12.00 target price on shares of WisdomTree Investments in a report on Sunday, October 29th. BidaskClub upgraded WisdomTree Investments from a buy rating to a strong-buy rating in a report on Wednesday, December 6th. Keefe, Bruyette & Woods upgraded WisdomTree Investments from an underperform rating to a mkt perform rating in a report on Tuesday, November 14th. Citigroup restated a buy rating and set a $15.00 target price on shares of WisdomTree Investments in a report on Monday, October 30th. Finally, UBS Group upped their target price on WisdomTree Investments from $8.00 to $8.50 and gave the stock a sell rating in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $11.94.
WisdomTree Investments (NASDAQ:WETF) traded up $0.04 during trading on Friday, reaching $13.23. The company’s stock had a trading volume of 1,018,206 shares, compared to its average volume of 1,060,596. The stock has a market capitalization of $1,811.35, a price-to-earnings ratio of 60.14, a P/E/G ratio of 2.18 and a beta of 3.16. WisdomTree Investments has a one year low of $7.87 and a one year high of $13.41.
WisdomTree Investments (NASDAQ:WETF) last posted its earnings results on Friday, October 27th. The asset manager reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $57.99 million during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. equities research analysts predict that WisdomTree Investments will post 0.25 EPS for the current year.
In other news, Director Frank Salerno sold 50,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $11.71, for a total transaction of $585,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.10% of the company’s stock.
Several hedge funds have recently modified their holdings of WETF. Schwab Charles Investment Management Inc. increased its position in shares of WisdomTree Investments by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 476,715 shares of the asset manager’s stock worth $4,849,000 after purchasing an additional 4,419 shares in the last quarter. SG Americas Securities LLC increased its position in shares of WisdomTree Investments by 17.4% during the second quarter. SG Americas Securities LLC now owns 22,717 shares of the asset manager’s stock worth $231,000 after purchasing an additional 3,365 shares in the last quarter. Legal & General Group Plc increased its position in shares of WisdomTree Investments by 12.1% during the second quarter. Legal & General Group Plc now owns 227,701 shares of the asset manager’s stock worth $2,316,000 after purchasing an additional 24,603 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of WisdomTree Investments by 50.7% during the second quarter. BNP Paribas Arbitrage SA now owns 38,034 shares of the asset manager’s stock worth $387,000 after purchasing an additional 12,789 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of WisdomTree Investments by 8.1% during the second quarter. Victory Capital Management Inc. now owns 36,108 shares of the asset manager’s stock worth $367,000 after purchasing an additional 2,697 shares in the last quarter. 89.41% 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 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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