Zacks Investment Research lowered shares of WisdomTree Investments, Inc. (NASDAQ:WETF) from a hold rating to a sell rating in a research note issued to investors on Thursday.
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 reports about the stock. Northland Securities reiterated a hold rating and set a $10.50 target price on shares of WisdomTree Investments in a report on Sunday, July 30th. ValuEngine raised WisdomTree Investments from a sell rating to a hold rating in a research report on Tuesday, August 1st. BidaskClub cut WisdomTree Investments from a buy rating to a hold rating in a research report on Monday, July 31st. Gabelli reaffirmed a buy rating on shares of WisdomTree Investments in a research report on Monday, July 31st. Finally, UBS AG reaffirmed a sell rating and set a $8.00 target price (up previously from $7.50) on shares of WisdomTree Investments in a research report on Monday, July 31st. Six analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $10.25.
WisdomTree Investments (NASDAQ WETF) traded down 0.09% on Thursday, hitting $10.62. The stock had a trading volume of 818,211 shares. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 48.27 and a beta of 3.15. The stock’s 50-day moving average is $9.36 and its 200 day moving average is $9.44. WisdomTree Investments has a 1-year low of $7.87 and a 1-year high of $13.32.
WisdomTree Investments (NASDAQ:WETF) last issued its earnings results on Friday, July 28th. The asset manager reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. WisdomTree Investments had a net margin of 13.33% and a return on equity of 15.41%. The company had revenue of $63.40 million for the quarter, compared to analysts’ expectations of $57.27 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts predict that WisdomTree Investments will post $0.26 earnings per share for the current fiscal year.
In other WisdomTree Investments news, Director Bruce I. Lavine sold 10,289 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $10.10, for a total transaction of $103,918.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of WETF. Great West Life Assurance Co. Can boosted its position in shares of WisdomTree Investments by 137.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 160,548 shares of the asset manager’s stock worth $1,455,000 after purchasing an additional 92,868 shares in the last quarter. First Trust Advisors LP boosted its position in shares of WisdomTree Investments by 11.6% in the 1st quarter. First Trust Advisors LP now owns 45,778 shares of the asset manager’s stock worth $416,000 after purchasing an additional 4,741 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of WisdomTree Investments by 21.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,139,638 shares of the asset manager’s stock worth $19,427,000 after purchasing an additional 372,427 shares in the last quarter. Comerica Bank boosted its position in shares of WisdomTree Investments by 50.2% in the 1st quarter. Comerica Bank now owns 126,887 shares of the asset manager’s stock worth $1,062,000 after purchasing an additional 42,433 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of WisdomTree Investments by 2.9% in the 1st quarter. Swiss National Bank now owns 191,100 shares of the asset manager’s stock worth $1,735,000 after purchasing an additional 5,400 shares in the last quarter. 92.49% of the stock is owned by hedge funds and other institutional investors.
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 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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