Zacks Investment Research upgraded shares of WisdomTree Investments Inc. (NASDAQ:WETF) from a sell rating to a hold rating in a research note published on Saturday morning.
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 brokerages have also recently issued reports on WETF. Jefferies Group reissued a buy rating and issued a $13.00 target price on shares of WisdomTree Investments in a research report on Tuesday, July 5th. Citigroup Inc. reissued a sell rating and issued a $6.00 target price on shares of WisdomTree Investments in a research report on Tuesday, June 21st. Credit Suisse Group AG set a $14.00 target price on shares of WisdomTree Investments and gave the company a buy rating in a research report on Wednesday, September 28th. Finally, Bank of America Corp. cut shares of WisdomTree Investments from a buy rating to a neutral rating in a research report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently 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. WisdomTree Investments has a one year low of $8.70 and a one year high of $22.33. The firm’s 50-day moving average is $10.24 and its 200-day moving average is $10.75. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 23.74 and a beta of 2.65.
WisdomTree Investments (NASDAQ:WETF) last released its quarterly earnings data on Friday, July 29th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. WisdomTree Investments had a net margin of 21.72% and a return on equity of 26.72%. 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 posted $0.18 earnings per share. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. Analysts expect that WisdomTree Investments will post $0.23 EPS for the current fiscal year.
In other WisdomTree Investments news, Director Anthony Bossone bought 50,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average price of $9.90 per share, with a total value of $495,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan L. Steinberg bought 250,000 shares of the stock in a transaction on Friday, August 19th. The shares were acquired at an average cost of $10.16 per share, with a total value of $2,540,000.00. The disclosure for this purchase can be found here. Company insiders own 16.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of WisdomTree Investments by 25.9% in the first quarter. Wellington Management Group LLP now owns 19,218,783 shares of the company’s stock valued at $219,671,000 after buying an additional 3,956,785 shares during the last quarter. Vanguard Group Inc. increased its position in WisdomTree Investments by 3.3% in the second quarter. Vanguard Group Inc. now owns 8,618,677 shares of the company’s stock valued at $84,377,000 after buying an additional 278,414 shares in the last quarter. TimesSquare Capital Management LLC increased its position in WisdomTree Investments by 4.5% in the second quarter. TimesSquare Capital Management LLC now owns 6,347,435 shares of the company’s stock valued at $62,141,000 after buying an additional 270,930 shares in the last quarter. BlackRock Fund Advisors increased its position in WisdomTree Investments by 2.4% in the second quarter. BlackRock Fund Advisors now owns 5,790,448 shares of the company’s stock valued at $56,688,000 after buying an additional 136,499 shares in the last quarter. Finally, Jackson Square Partners LLC increased its position in WisdomTree Investments by 141.3% in the second quarter. Jackson Square Partners LLC now owns 4,975,229 shares of the company’s stock valued at $48,707,000 after buying an additional 2,913,362 shares in the last quarter. 96.12% of the stock is 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.