WisdomTree Investments (WETF) Upgraded at Zacks Investment Research
WisdomTree Investments (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Sunday. The firm currently has a $15.00 price target on the asset manager’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.28% from the company’s previous close.
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 equities analysts have also recently commented on WETF. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $10.00 price objective on shares of WisdomTree Investments in a research note on Thursday, October 12th. Deutsche Bank initiated coverage on shares of WisdomTree Investments in a research note on Tuesday, October 17th. They set a “buy” rating and a $13.00 price objective for the company. Northland Securities reaffirmed a “hold” rating and set a $12.00 price objective on shares of WisdomTree Investments in a research note on Sunday, October 29th. Citigroup reaffirmed a “buy” rating and set a $15.00 price objective on shares of WisdomTree Investments in a research note on Monday, October 30th. Finally, UBS Group boosted their price target on shares of WisdomTree Investments from $8.00 to $8.50 and gave the stock a “sell” rating in a research note on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $12.06.
WisdomTree Investments (NASDAQ:WETF) last issued its quarterly earnings data on Friday, October 27th. The asset manager reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $57.99 million during the quarter, compared to analysts’ expectations of $57.89 million. WisdomTree Investments had a net margin of 12.98% and a return on equity of 15.47%. WisdomTree Investments’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. analysts predict that WisdomTree Investments will post 0.25 earnings per share for the current fiscal year.
In other WisdomTree Investments news, Director Frank Salerno sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $11.71, for a total value of $585,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in WisdomTree Investments by 19.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 548,883 shares of the asset manager’s stock worth $6,889,000 after buying an additional 91,183 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of WisdomTree Investments by 15.4% in the 4th quarter. Bank of Montreal Can now owns 82,465 shares of the asset manager’s stock worth $1,035,000 after acquiring an additional 11,028 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of WisdomTree Investments by 5.1% in the 4th quarter. North Star Investment Management Corp. now owns 419,384 shares of the asset manager’s stock worth $5,263,000 after acquiring an additional 20,511 shares during the last quarter. New England Research & Management Inc. lifted its holdings in shares of WisdomTree Investments by 6.6% in the 4th quarter. New England Research & Management Inc. now owns 81,300 shares of the asset manager’s stock worth $1,020,000 after acquiring an additional 5,050 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in shares of WisdomTree Investments in the 3rd quarter worth approximately $153,000. 89.43% of the stock is owned by institutional investors and hedge funds.
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WisdomTree Investments Company Profile
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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