WisdomTree Investments Inc. (WETF) Stock Rating Lowered by Zacks Investment Research
WisdomTree Investments Inc. (NASDAQ:WETF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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. “
Several other analysts have also recently commented on the company. Citigroup Inc. reiterated a “sell” rating and set a $6.00 price target on shares of WisdomTree Investments in a research report on Tuesday, June 21st. Jefferies Group reiterated a “buy” rating and set a $13.00 price target on shares of WisdomTree Investments in a research report on Tuesday, July 5th. Bank of America Corp. cut WisdomTree Investments from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of WisdomTree Investments in a research report on Monday, August 1st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.23.
Shares of WisdomTree Investments (NASDAQ:WETF) opened at 10.29 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 23.87 and a beta of 2.67. WisdomTree Investments has a 12 month low of $8.70 and a 12 month high of $22.33. The firm’s 50-day moving average is $10.25 and its 200 day moving average is $10.82.
WisdomTree Investments (NASDAQ:WETF) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. WisdomTree Investments had a return on equity of 26.72% and a net margin of 21.72%. The firm earned $55.98 million during the quarter, compared to analysts’ expectations of $55.01 million. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. Equities analysts expect that WisdomTree Investments will post $0.23 EPS for the current year.
In other news, Director Anthony Bossone bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average price of $9.90 per share, with a total value of $495,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jonathan L. Steinberg bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average cost of $10.23 per share, for a total transaction of $1,023,000.00. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WETF. Rational Advisors LLC purchased a new position in WisdomTree Investments during the second quarter valued at about $113,000. Amalgamated Bank raised its position in WisdomTree Investments by 10.4% in the second quarter. Amalgamated Bank now owns 13,840 shares of the company’s stock valued at $144,000 after buying an additional 1,304 shares during the last quarter. Carleon Capital Partners LLC raised its position in WisdomTree Investments by 14.2% in the second quarter. Carleon Capital Partners LLC now owns 14,861 shares of the company’s stock valued at $145,000 after buying an additional 1,843 shares during the last quarter. Victory Capital Management Inc. raised its position in WisdomTree Investments by 17.5% in the second quarter. Victory Capital Management Inc. now owns 15,655 shares of the company’s stock valued at $153,000 after buying an additional 2,337 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in WisdomTree Investments by 12.9% in the second quarter. Teacher Retirement System of Texas now owns 16,319 shares of the company’s stock valued at $160,000 after buying an additional 1,865 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.
WisdomTree Investments Company Profile
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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