Wisdom Tree Investments (NASDAQ:WETF) had its price target cut by Morgan Stanley from $7.00 to $6.00 in a report released on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the asset manager’s stock.
Several other brokerages have also recently weighed in on WETF. Zacks Investment Research reissued a sell rating on shares of Wisdom Tree Investments in a research note on Saturday, October 5th. BidaskClub raised Wisdom Tree Investments from a sell rating to a hold rating in a research note on Wednesday, September 18th. Finally, ValuEngine raised Wisdom Tree Investments from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $7.10.
Shares of NASDAQ WETF opened at $4.86 on Tuesday. The business’s 50 day moving average is $5.10 and its two-hundred day moving average is $6.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.93 and a quick ratio of 1.78. Wisdom Tree Investments has a 1-year low of $4.55 and a 1-year high of $8.10. The stock has a market capitalization of $753.78 million, a P/E ratio of 15.19, a PEG ratio of 2.14 and a beta of 1.60.
Wisdom Tree Investments (NASDAQ:WETF) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Wisdom Tree Investments had a return on equity of 11.09% and a net margin of 8.00%. The company had revenue of $66.30 million for the quarter, compared to the consensus estimate of $66.98 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The company’s revenue was down 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wisdom Tree Investments will post 0.21 earnings per share for the current fiscal year.
In other Wisdom Tree Investments news, insider Jeremy Schwartz bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $4.73 per share, with a total value of $47,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of Wisdom Tree Investments by 125.7% during the third quarter. State of Alaska Department of Revenue now owns 90,552 shares of the asset manager’s stock valued at $473,000 after buying an additional 50,424 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Wisdom Tree Investments by 9.5% in the second quarter. Royal Bank of Canada now owns 974,128 shares of the asset manager’s stock valued at $6,010,000 after purchasing an additional 84,809 shares during the period. HM Payson & Co. boosted its holdings in shares of Wisdom Tree Investments by 10.6% in the second quarter. HM Payson & Co. now owns 47,108 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 4,502 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Wisdom Tree Investments in the second quarter valued at approximately $3,047,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Wisdom Tree Investments by 15.4% in the second quarter. UBS Asset Management Americas Inc. now owns 86,041 shares of the asset manager’s stock valued at $531,000 after purchasing an additional 11,481 shares during the period. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
Wisdom Tree 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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