Zacks Investment Research Downgrades WisdomTree Investments (NASDAQ:WETF) to Hold

WisdomTree Investments (NASDAQ:WETF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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. “

Several other analysts have also weighed in on the company. Northland Securities upped their price objective on WisdomTree Investments from $4.25 to $6.00 in a report on Tuesday, December 29th. Northcoast Research reaffirmed a “neutral” rating on shares of WisdomTree Investments in a report on Tuesday, March 23rd. Credit Suisse Group upped their target price on WisdomTree Investments from $6.60 to $7.40 and gave the company an “outperform” rating in a report on Monday, February 1st. Morgan Stanley raised WisdomTree Investments from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $4.75 to $6.75 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on WisdomTree Investments from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, February 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.48.

Shares of WisdomTree Investments stock opened at $6.62 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.52 and a debt-to-equity ratio of 0.49. The firm has a market cap of $991.03 million, a price-to-earnings ratio of -60.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.90. The business has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $4.95. WisdomTree Investments has a fifty-two week low of $2.33 and a fifty-two week high of $6.93.

WisdomTree Investments (NASDAQ:WETF) last announced its quarterly earnings data on Thursday, January 28th. The asset manager reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $67.10 million during the quarter, compared to analyst estimates of $65.47 million. WisdomTree Investments had a positive return on equity of 12.32% and a negative net margin of 5.21%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Analysts anticipate that WisdomTree Investments will post 0.22 earnings per share for the current fiscal year.

In related news, CFO Amit Muni sold 75,000 shares of the company’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $5.33, for a total transaction of $399,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in WisdomTree Investments in the 4th quarter worth about $61,000. Vantage Consulting Group Inc acquired a new position in WisdomTree Investments in the 4th quarter worth about $61,000. Profund Advisors LLC acquired a new position in WisdomTree Investments in the 4th quarter worth about $66,000. Virtu Financial LLC acquired a new position in WisdomTree Investments in the 3rd quarter worth about $43,000. Finally, Truist Financial Corp acquired a new position in WisdomTree Investments in the 4th quarter worth about $82,000. 71.02% of the stock is currently owned by institutional investors.

About WisdomTree 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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