WisdomTree Investments, Inc. (NASDAQ:WETF) Lowered to “Sell” at BidaskClub
WisdomTree Investments, Inc. (NASDAQ:WETF) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
A number of other research firms also recently weighed in on WETF. ValuEngine raised shares of WisdomTree Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Citigroup Inc. raised shares of WisdomTree Investments from a “neutral” rating to a “buy” rating and set a $10.50 price target for the company in a research note on Monday, May 15th. Zacks Investment Research downgraded shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. UBS AG reissued a “sell” rating and set a $8.00 price target (up from $7.50) on shares of WisdomTree Investments in a research note on Monday, July 31st. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating on shares of WisdomTree Investments in a research note on Thursday. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.11.
WisdomTree Investments (NASDAQ WETF) traded up 1.64% on Friday, hitting $9.32. 385,739 shares of the company were exchanged. WisdomTree Investments has a one year low of $7.87 and a one year high of $13.32. The stock has a 50 day moving average price of $10.28 and a 200 day moving average price of $9.45. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 42.36 and a beta of 3.09.
WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings results on Friday, July 28th. The asset manager reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. The business had revenue of $63.40 million during the quarter, compared to the consensus estimate of $57.27 million. WisdomTree Investments had a net margin of 13.33% and a return on equity of 15.41%. WisdomTree Investments’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts forecast that WisdomTree Investments will post $0.24 EPS for the current fiscal year.
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In other WisdomTree Investments news, Director Bruce I. Lavine sold 10,289 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $10.10, for a total value of $103,918.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.10% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of WisdomTree Investments by 25,214.1% in the first quarter. BlackRock Inc. now owns 13,399,791 shares of the asset manager’s stock valued at $121,669,000 after buying an additional 13,346,857 shares during the last quarter. Clarity Capital KCPS Ltd. purchased a new stake in shares of WisdomTree Investments during the first quarter valued at approximately $530,215,000. Vanguard Group Inc. increased its stake in shares of WisdomTree Investments by 15.5% in the first quarter. Vanguard Group Inc. now owns 10,381,851 shares of the asset manager’s stock valued at $94,267,000 after buying an additional 1,392,507 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of WisdomTree Investments by 7.5% in the second quarter. TimesSquare Capital Management LLC now owns 7,936,900 shares of the asset manager’s stock valued at $80,718,000 after buying an additional 553,400 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of WisdomTree Investments by 6.7% in the first quarter. Morgan Stanley now owns 6,928,870 shares of the asset manager’s stock valued at $62,914,000 after buying an additional 432,552 shares during the last quarter. 95.28% 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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