WisdomTree Investments, Inc. (NASDAQ:WETF)‘s stock had its “sell” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued on Thursday. They presently have a $10.00 price objective on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 6.98% from the company’s current price.
Several other brokerages also recently commented on WETF. ValuEngine downgraded shares of WisdomTree Investments from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub downgraded shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Gabelli reiterated a “buy” rating on shares of WisdomTree Investments in a report on Monday, July 31st. Finally, UBS AG reiterated a “sell” rating and set a $8.00 price target (up from $7.50) on shares of WisdomTree Investments in a report on Monday, July 31st. Six analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.33.
WisdomTree Investments (WETF) opened at 10.75 on Thursday. The stock’s 50 day moving average price is $9.50 and its 200-day moving average price is $9.49. The company has a market capitalization of $1.45 billion, a PE ratio of 48.86 and a beta of 3.15. WisdomTree Investments has a 52 week low of $7.87 and a 52 week high of $13.32.
WisdomTree Investments (NASDAQ:WETF) last announced its earnings results on Friday, July 28th. The asset manager reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $63.40 million for the quarter, compared to analysts’ expectations of $57.27 million. WisdomTree Investments had a net margin of 13.33% and a return on equity of 15.41%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. On average, equities research analysts predict that WisdomTree Investments will post $0.25 earnings per share for the current fiscal year.
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In other WisdomTree Investments news, Director Bruce I. Lavine sold 19,849 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $9.95, for a total value of $197,497.55. The sale was disclosed in a filing with the SEC, which is available through this link. 16.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of WETF. First Trust Advisors LP grew its stake in 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 acquiring an additional 4,741 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 372,427 shares in the last quarter. Comerica Bank grew its stake in 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 acquiring an additional 42,433 shares in the last quarter. Swiss National Bank grew its stake in 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 acquiring an additional 5,400 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in WisdomTree Investments by 32.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 60,555 shares of the asset manager’s stock worth $550,000 after acquiring an additional 14,695 shares in the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.
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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