WisdomTree Investments, Inc. (NASDAQ:WETF) Releases Earnings Results, Beats Expectations By $0.02 EPS
WisdomTree Investments, Inc. (NASDAQ:WETF) announced its quarterly earnings results on Friday. The asset manager reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02, MarketWatch Earnings reports. WisdomTree Investments had a net margin of 9.83% and a return on equity of 11.15%. The firm had revenue of $63.40 million for the quarter, compared to the consensus estimate of $57.27 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis.
WisdomTree Investments (NASDAQ WETF) traded down 2.69% on Friday, hitting $10.13. 1,865,508 shares of the company traded hands. WisdomTree Investments has a 1-year low of $7.87 and a 1-year high of $13.32. The firm’s 50 day moving average price is $10.25 and its 200 day moving average price is $9.51. The firm has a market capitalization of $1.36 billion, a PE ratio of 46.26 and a beta of 3.10.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in WisdomTree Investments by 25,214.1% in the first quarter. BlackRock Inc. now owns 13,399,791 shares of the asset manager’s stock worth $121,669,000 after buying an additional 13,346,857 shares in the last quarter. Clarity Capital KCPS Ltd. acquired a new position in WisdomTree Investments during the first quarter worth approximately $530,215,000. TimesSquare Capital Management LLC boosted its position in WisdomTree Investments by 67.9% in the first quarter. TimesSquare Capital Management LLC now owns 7,383,500 shares of the asset manager’s stock worth $67,042,000 after buying an additional 2,987,215 shares in the last quarter. Clearbridge Investments LLC boosted its position in WisdomTree Investments by 50.0% in the first quarter. Clearbridge Investments LLC now owns 4,805,561 shares of the asset manager’s stock worth $43,634,000 after buying an additional 1,602,505 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in WisdomTree Investments by 15.5% in the first quarter. Vanguard Group Inc. now owns 10,381,851 shares of the asset manager’s stock worth $94,267,000 after buying an additional 1,392,507 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors.
WETF has been the topic of a number of recent analyst reports. Citigroup Inc. raised shares of WisdomTree Investments from a “neutral” rating to a “buy” rating and set a $10.50 price target on the stock in a report on Monday, May 15th. BidaskClub raised shares of WisdomTree Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $8.00 price target on shares of WisdomTree Investments in a report on Monday, April 10th. Jefferies Group LLC restated a “buy” rating and issued a $14.00 price objective on shares of WisdomTree Investments in a research report on Wednesday, June 28th. Finally, Zacks Investment Research cut shares of WisdomTree Investments from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $10.00.
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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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