WisdomTree Investments, Inc. (WETF) Coverage Initiated at Deutsche Bank AG
Equities researchers at Deutsche Bank AG assumed coverage on shares of WisdomTree Investments, Inc. (NASDAQ:WETF) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $13.00 price target on the asset manager’s stock. Deutsche Bank AG’s price target suggests a potential upside of 18.18% from the company’s current price.
WETF has been the subject of several other reports. Gabelli reaffirmed a “buy” rating on shares of WisdomTree Investments in a research note on Monday, July 31st. Zacks Investment Research raised shares of WisdomTree Investments from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, July 4th. Northland Securities reaffirmed a “hold” rating and set a $10.50 target price on shares of WisdomTree Investments in a research note on Sunday, July 30th. BidaskClub cut shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of WisdomTree Investments in a research note on Wednesday, June 28th. Six equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.60.
Shares of WisdomTree Investments (NASDAQ:WETF) opened at 11.00 on Tuesday. WisdomTree Investments has a 12-month low of $7.87 and a 12-month high of $13.32. The company has a market capitalization of $1.48 billion, a P/E ratio of 50.00 and a beta of 3.15. The stock’s 50 day moving average is $9.76 and its 200-day moving average is $9.57.
WisdomTree Investments (NASDAQ:WETF) last posted its earnings results on Friday, July 28th. The asset manager reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $63.40 million during the quarter, compared to analysts’ expectations of $57.27 million. WisdomTree Investments had a net margin of 13.33% and a return on equity of 15.41%. WisdomTree Investments’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. Analysts anticipate that WisdomTree Investments will post $0.25 earnings per share for the current year.
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In other WisdomTree Investments news, Director Bruce I. Lavine sold 19,849 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.95, for a total transaction of $197,497.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.10% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in WisdomTree Investments during the second quarter valued at $174,000. Piedmont Investment Advisors LLC bought a new stake in shares of WisdomTree Investments in the 2nd quarter worth about $252,000. Cubist Systematic Strategies LLC bought a new stake in shares of WisdomTree Investments in the 2nd quarter worth about $322,000. BlueCrest Capital Management Ltd bought a new stake in shares of WisdomTree Investments in the 2nd quarter worth about $359,000. Finally, State Street Corp lifted its holdings in shares of WisdomTree Investments by 3.8% in the 2nd quarter. State Street Corp now owns 3,002,162 shares of the asset manager’s stock worth $30,531,000 after acquiring an additional 110,032 shares during the last quarter. Institutional investors and hedge funds own 92.53% 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 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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