Wisdom Tree Investments Inc (NASDAQ:WETF) shares were up 6.3% during mid-day trading on Friday . The stock traded as high as $5.03 and last traded at $4.86, approximately 2,850,257 shares were traded during mid-day trading. An increase of 128% from the average daily volume of 1,251,353 shares. The stock had previously closed at $4.57.
Several analysts have issued reports on WETF shares. BidaskClub raised Wisdom Tree Investments from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Northland Securities set a $6.50 target price on Wisdom Tree Investments and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley cut their target price on Wisdom Tree Investments from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Zacks Investment Research reaffirmed a “sell” rating on shares of Wisdom Tree Investments in a research note on Saturday. Finally, ValuEngine upgraded Wisdom Tree Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.10.
The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $6.18. The stock has a market cap of $708.80 million, a P/E ratio of 15.19, a P/E/G ratio of 2.17 and a beta of 1.60.
Wisdom Tree Investments (NASDAQ:WETF) last announced 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 net margin of 8.00% and a return on equity of 11.09%. The company had revenue of $66.30 million during the quarter, compared to the consensus estimate of $66.98 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Wisdom Tree Investments Inc will post 0.21 earnings per share for the current fiscal year.
In related news, insider Jeremy Schwartz acquired 10,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $4.73 per share, for a total transaction of $47,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Jacobs Asset Management LLC bought a new stake in Wisdom Tree Investments in the second quarter valued at approximately $2,205,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Wisdom Tree Investments by 13.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 19,574 shares of the asset manager’s stock valued at $121,000 after acquiring an additional 2,260 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Wisdom Tree Investments during the second quarter valued at approximately $1,055,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Wisdom Tree Investments by 18.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 915,229 shares of the asset manager’s stock valued at $5,647,000 after acquiring an additional 142,842 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Wisdom Tree Investments by 6.5% during the second quarter. BlackRock Inc. now owns 18,096,723 shares of the asset manager’s stock valued at $111,658,000 after acquiring an additional 1,097,210 shares in the last quarter. Hedge funds and other institutional investors own 72.97% of the company’s stock.
About Wisdom Tree Investments (NASDAQ:WETF)
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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