WisdomTree Investments (NASDAQ:WETF) Upgraded to “Hold” at Zacks Investment Research

WisdomTree Investments (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

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. “

Separately, Deutsche Bank Aktiengesellschaft boosted their price objective on WisdomTree Investments from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Monday, November 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, WisdomTree Investments currently has an average rating of “Hold” and an average target price of $7.23.

Shares of WisdomTree Investments stock opened at $6.39 on Thursday. The company has a quick ratio of 2.19, a current ratio of 3.77 and a debt-to-equity ratio of 1.22. WisdomTree Investments has a twelve month low of $5.13 and a twelve month high of $7.38. The business has a 50-day moving average price of $6.34 and a 200 day moving average price of $6.19. The firm has a market cap of $927.40 million, a PE ratio of 45.64 and a beta of 1.72.

WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings data on Thursday, October 28th. The asset manager reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. WisdomTree Investments had a return on equity of 20.71% and a net margin of 8.50%. The company had revenue of $78.10 million during the quarter, compared to analyst estimates of $77.65 million. During the same period in the previous year, the business earned $0.07 EPS. WisdomTree Investments’s quarterly revenue was up 20.3% on a year-over-year basis. On average, sell-side analysts expect that WisdomTree Investments will post 0.37 EPS for the current year.

In related news, insider Peter M. Ziemba sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $6.76, for a total value of $33,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in WisdomTree Investments by 93.7% in the third quarter. Comerica Bank now owns 204,934 shares of the asset manager’s stock valued at $1,223,000 after acquiring an additional 99,116 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in WisdomTree Investments by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 3,648,258 shares of the asset manager’s stock worth $20,685,000 after purchasing an additional 52,585 shares in the last quarter. Gyon Technologies Capital Management LP acquired a new position in WisdomTree Investments during the third quarter worth $663,000. Schonfeld Strategic Advisors LLC lifted its stake in WisdomTree Investments by 27.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 736,300 shares of the asset manager’s stock worth $4,175,000 after purchasing an additional 156,900 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in WisdomTree Investments by 184.9% during the third quarter. BNP Paribas Arbitrage SA now owns 114,251 shares of the asset manager’s stock worth $648,000 after purchasing an additional 74,142 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.

About WisdomTree Investments

WisdomTree Investments, Inc operates as an asset management company that focuses on Exchange Traded Products (ETPs). It distributes ETPs within the asset management industry, including brokerage firms, registered investment advisors, institutional investors, private wealth managers and discount brokers.

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