Wisdom Tree Investments (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, Zacks.com reports. The brokerage currently has a $8.50 price objective on the asset manager’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.10% from the company’s current price.
According to Zacks, “INDIVIDUAL INVESTOR GROUP INC. is an information services company that publishes and markets Individual Investor magazine and Individual Investor’s Special Situations Report. In addition, the Company, through wholly owned subsidiaries, is the investment manager of private investment funds. “
Several other brokerages also recently commented on WETF. ValuEngine raised Wisdom Tree Investments from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. BidaskClub upgraded Wisdom Tree Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. Northland Securities restated a “hold” rating and set a $9.00 price objective on shares of Wisdom Tree Investments in a research report on Friday. Citigroup upgraded Wisdom Tree Investments from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $6.00 to $6.50 in a research report on Tuesday, December 18th. Finally, Credit Suisse Group cut Wisdom Tree Investments from a “neutral” rating to a “sell” rating and set a $8.00 price objective on the stock. in a research report on Tuesday, February 5th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Wisdom Tree Investments has an average rating of “Hold” and a consensus target price of $8.50.
Wisdom Tree Investments (NASDAQ:WETF) last issued its quarterly earnings results on Friday, February 1st. The asset manager reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.02). The business had revenue of $67.90 million during the quarter, compared to the consensus estimate of $68.18 million. Wisdom Tree Investments had a return on equity of 15.70% and a net margin of 13.33%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. Sell-side analysts expect that Wisdom Tree Investments will post 0.26 earnings per share for the current fiscal year.
In related news, CEO Jonathan L. Steinberg purchased 85,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were acquired at an average price of $5.98 per share, with a total value of $508,300.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter M. Ziemba purchased 16,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was bought at an average cost of $6.07 per share, for a total transaction of $97,120.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 164,500 shares of company stock worth $982,285. 14.50% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund acquired a new stake in Wisdom Tree Investments in the 4th quarter valued at $294,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Wisdom Tree Investments by 62.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,320 shares of the asset manager’s stock valued at $69,000 after buying an additional 3,956 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Wisdom Tree Investments by 51.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 81,408 shares of the asset manager’s stock valued at $690,000 after buying an additional 27,720 shares in the last quarter. Royce & Associates LP boosted its stake in Wisdom Tree Investments by 77.8% in the 4th quarter. Royce & Associates LP now owns 208,000 shares of the asset manager’s stock valued at $1,383,000 after buying an additional 91,000 shares in the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in Wisdom Tree Investments by 6.4% in the 3rd quarter. Standard Life Aberdeen plc now owns 4,545,279 shares of the asset manager’s stock valued at $38,567,000 after buying an additional 272,344 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.
About Wisdom Tree Investments
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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