Zacks Investment Research upgraded shares of WisdomTree Investments (NASDAQ:WETF) from a sell rating to a hold rating in a report issued on Friday 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. “
Several other research firms have also recently commented on WETF. BidaskClub cut WisdomTree Investments from a hold rating to a sell rating in a report on Tuesday, March 13th. Jefferies Group reaffirmed a buy rating and issued a $15.00 price target on shares of WisdomTree Investments in a report on Thursday, January 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $10.00 price target on shares of WisdomTree Investments in a report on Wednesday, April 11th. Deutsche Bank cut their price target on WisdomTree Investments from $13.00 to $12.00 and set a buy rating for the company in a report on Friday, April 6th. Finally, Morgan Stanley cut their price target on WisdomTree Investments from $14.00 to $13.00 and set an equal weight rating for the company in a report on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $11.95.
NASDAQ:WETF opened at $9.45 on Friday. WisdomTree Investments has a one year low of $7.87 and a one year high of $13.41. The company has a market capitalization of $1,446.89, a P/E ratio of 39.38, a P/E/G ratio of 1.64 and a beta of 2.67.
WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings results on Friday, February 2nd. The asset manager reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). WisdomTree Investments had a net margin of 11.46% and a return on equity of 16.16%. The company had revenue of $61.39 million during the quarter, compared to analyst estimates of $60.89 million. During the same period in the prior year, the business posted $0.03 EPS. WisdomTree Investments’s revenue for the quarter was up 20.8% compared to the same quarter last year. research analysts forecast that WisdomTree Investments will post 0.38 EPS for the current year.
In related news, Director Michael H. Steinhardt sold 163,093 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $9.89, for a total value of $1,612,989.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan L. Steinberg sold 81,663 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.15, for a total value of $828,879.45. The disclosure for this sale can be found here. Insiders sold 941,936 shares of company stock valued at $9,354,156 over the last quarter. 16.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC grew its position in WisdomTree Investments by 16.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 8,403,900 shares of the asset manager’s stock worth $105,469,000 after acquiring an additional 1,176,600 shares during the period. Fred Alger Management Inc. boosted its position in shares of WisdomTree Investments by 26.2% during the fourth quarter. Fred Alger Management Inc. now owns 7,392,054 shares of the asset manager’s stock worth $92,770,000 after buying an additional 1,535,994 shares during the period. Clearbridge Investments LLC boosted its position in shares of WisdomTree Investments by 0.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,842,415 shares of the asset manager’s stock worth $60,772,000 after buying an additional 34,160 shares during the period. Standard Life Aberdeen plc boosted its position in shares of WisdomTree Investments by 19.4% during the fourth quarter. Standard Life Aberdeen plc now owns 3,694,333 shares of the asset manager’s stock worth $46,383,000 after buying an additional 600,276 shares during the period. Finally, Granite Investment Partners LLC boosted its position in shares of WisdomTree Investments by 1.7% during the fourth quarter. Granite Investment Partners LLC now owns 1,483,974 shares of the asset manager’s stock worth $18,624,000 after buying an additional 24,513 shares during the period. Institutional investors own 86.35% of the company’s stock.
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WisdomTree Investments Company Profile
WisdomTree Investments, Inc, through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes. The company also licenses its indexes to third parties for proprietary products, as well as offers a platform to promote the use of WisdomTree ETFs in 401(k) plans.
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