WisdomTree Investments Inc. (NASDAQ:WETF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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 research analysts have also recently issued research reports about the company. Jefferies Group restated a “buy” rating and issued a $13.00 price target 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 note on Wednesday. Bank of America Corp. lowered WisdomTree Investments from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Citigroup Inc. reaffirmed a “sell” rating and set a $6.00 price objective on shares of WisdomTree Investments in a research note on Tuesday, June 21st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.23.
Shares of WisdomTree Investments (NASDAQ:WETF) opened at 10.29 on Friday. WisdomTree Investments has a 52 week low of $8.70 and a 52 week high of $22.33. The stock has a 50 day moving average of $10.25 and a 200 day moving average of $10.82. The stock has a market cap of $1.38 billion, a P/E ratio of 23.87 and a beta of 2.67.
WisdomTree Investments (NASDAQ:WETF) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. WisdomTree Investments had a return on equity of 26.72% and a net margin of 21.72%. The business earned $55.98 million during the quarter, compared to analysts’ expectations of $55.01 million. During the same quarter last year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was down 31.4% on a year-over-year basis. On average, analysts expect that WisdomTree Investments will post $0.23 earnings per share for the current year.
In other news, CEO Jonathan L. Steinberg acquired 100,000 shares of WisdomTree Investments stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average cost of $10.23 per share, with a total value of $1,023,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony Bossone acquired 50,000 shares of WisdomTree Investments stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average cost of $9.90 per share, for a total transaction of $495,000.00. The disclosure for this purchase can be found here. 16.10% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in WETF. State Treasurer State of Michigan increased its stake in shares of WisdomTree Investments by 0.4% in the second quarter. State Treasurer State of Michigan now owns 45,400 shares of the company’s stock valued at $444,000 after buying an additional 200 shares during the last quarter. Comerica Bank increased its stake in shares of WisdomTree Investments by 0.3% in the second quarter. Comerica Bank now owns 126,409 shares of the company’s stock valued at $1,308,000 after buying an additional 424 shares during the last quarter. Hancock Holding Co. increased its stake in shares of WisdomTree Investments by 1.0% in the second quarter. Hancock Holding Co. now owns 50,476 shares of the company’s stock valued at $494,000 after buying an additional 512 shares during the last quarter. Legal & General Group Plc increased its stake in shares of WisdomTree Investments by 2.1% in the second quarter. Legal & General Group Plc now owns 28,156 shares of the company’s stock valued at $268,000 after buying an additional 575 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of WisdomTree Investments by 1.3% in the second quarter. Prudential Financial Inc. now owns 70,700 shares of the company’s stock valued at $692,000 after buying an additional 900 shares during the last quarter. 96.12% 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 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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