Zacks Investment Research Upgrades WisdomTree Investments (NASDAQ:WETF) to “Buy”

WisdomTree Investments (NASDAQ:WETF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm presently has a $6.75 price objective on the asset manager’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.19% 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. “

Other analysts have also issued reports about the company. Morgan Stanley lowered their price objective on WisdomTree Investments from $7.25 to $6.75 and set an “equal weight” rating for the company in a report on Friday, July 9th. Keefe, Bruyette & Woods raised WisdomTree Investments from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $7.50 to $8.00 in a report on Sunday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $6.82.

Shares of NASDAQ WETF opened at $5.86 on Wednesday. WisdomTree Investments has a 1 year low of $3.06 and a 1 year high of $7.38. The firm has a market cap of $876.61 million, a price-to-earnings ratio of 65.11 and a beta of 1.81. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 4.15. The stock’s 50-day simple moving average is $6.20 and its 200-day simple moving average is $6.36.

WisdomTree Investments (NASDAQ:WETF) last announced its earnings results on Friday, July 30th. The asset manager reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. WisdomTree Investments had a return on equity of 18.36% and a net margin of 6.74%. The business had revenue of $77.60 million for the quarter, compared to analyst estimates of $75.58 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts predict that WisdomTree Investments will post 0.36 EPS for the current year.

Large investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC bought a new position in shares of WisdomTree Investments during the second quarter valued at approximately $62,000. Advisor Group Holdings Inc. grew its holdings in shares of WisdomTree Investments by 35.7% during the second quarter. Advisor Group Holdings Inc. now owns 10,404 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 2,735 shares during the last quarter. Jane Street Group LLC bought a new position in shares of WisdomTree Investments during the first quarter valued at approximately $84,000. Captrust Financial Advisors grew its holdings in shares of WisdomTree Investments by 259.0% during the first quarter. Captrust Financial Advisors now owns 13,546 shares of the asset manager’s stock valued at $85,000 after purchasing an additional 9,773 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of WisdomTree Investments during the second quarter valued at approximately $85,000. 70.06% of the stock is owned by institutional investors.

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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