WisdomTree Investments (NASDAQ:WETF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to 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. “
WETF has been the topic of several other reports. Citigroup reiterated a “buy” rating and set a $15.00 price target on shares of WisdomTree Investments in a research report on Monday, October 30th. UBS Group upped their price target on WisdomTree Investments from $8.00 to $8.50 and gave the company a “sell” rating in a research report on Tuesday, November 14th. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $10.00 price target on shares of WisdomTree Investments in a research report on Thursday, October 12th. Northland Securities reiterated a “hold” rating and set a $12.00 price target on shares of WisdomTree Investments in a research report on Sunday, October 29th. Finally, BidaskClub cut WisdomTree Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. WisdomTree Investments presently has a consensus rating of “Hold” and an average target price of $11.94.
Shares of WisdomTree Investments (NASDAQ WETF) traded up $0.04 during trading on Friday, reaching $13.23. The company had a trading volume of 1,018,206 shares, compared to its average volume of 1,060,596. WisdomTree Investments has a fifty-two week low of $7.87 and a fifty-two week high of $13.41. The company has a market cap of $1,805.86, a PE ratio of 60.14, a P/E/G ratio of 2.17 and a beta of 3.16.
WisdomTree Investments (NASDAQ:WETF) last announced its quarterly earnings results on Friday, October 27th. The asset manager reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. WisdomTree Investments had a return on equity of 15.47% and a net margin of 12.98%. The firm had revenue of $57.99 million for the quarter, compared to analysts’ expectations of $57.89 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. sell-side analysts expect that WisdomTree Investments will post 0.25 EPS for the current year.
In related news, Director Frank Salerno sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $11.71, for a total value of $585,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Everence Capital Management Inc. bought a new position in shares of WisdomTree Investments in the third quarter worth approximately $103,000. 3D Asset Management Inc. bought a new position in shares of WisdomTree Investments in the third quarter worth approximately $112,000. Traynor Capital Management Inc. bought a new position in shares of WisdomTree Investments in the third quarter worth approximately $111,000. Shelton Capital Management bought a new position in shares of WisdomTree Investments in the second quarter worth approximately $116,000. Finally, Jane Street Group LLC bought a new position in shares of WisdomTree Investments in the third quarter worth approximately $129,000. Institutional investors own 89.41% of the company’s stock.
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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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