WisdomTree Investments Inc. (WETF) Stock Rating Upgraded by Zacks Investment Research
WisdomTree Investments Inc. (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
Other equities analysts also recently issued research reports about the company. Jefferies Group reiterated a “buy” rating and issued a $13.00 price objective on shares of WisdomTree Investments in a research report on Friday, June 17th. Credit Suisse Group AG set a $14.00 price objective on WisdomTree Investments and gave the company a “buy” rating in a research report on Wednesday, September 28th. Bank of America Corp. downgraded WisdomTree Investments from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Finally, Citigroup Inc. reissued a “sell” rating and issued a $6.00 target price on shares of WisdomTree Investments in a research note on Tuesday, June 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $13.85.
Shares of WisdomTree Investments (NASDAQ:WETF) opened at 10.23 on Friday. The stock’s 50 day moving average price is $10.24 and its 200 day moving average price is $10.75. WisdomTree Investments has a one year low of $8.70 and a one year high of $22.33. The stock has a market capitalization of $1.37 billion, a P/E ratio of 23.74 and a beta of 2.65.
WisdomTree Investments (NASDAQ:WETF) last issued its quarterly earnings data 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. 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 the consensus estimate of $55.01 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. On average, analysts forecast that WisdomTree Investments will post $0.23 EPS for the current year.
In other WisdomTree Investments news, CEO Jonathan L. Steinberg bought 100,000 shares of WisdomTree Investments stock in a transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony Bossone bought 50,000 shares of WisdomTree Investments stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average price of $9.90 per share, for a total transaction of $495,000.00. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rational Advisors LLC acquired a new position in WisdomTree Investments during the second quarter valued at $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 in 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 in 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 in 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 in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.
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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