Municipal Employees Retirement System of Michigan purchased a new position in shares of Wisdom Tree Investments Inc (NASDAQ:WETF) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,650 shares of the asset manager’s stock, valued at approximately $224,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund acquired a new stake in shares of Wisdom Tree Investments during the fourth quarter worth about $294,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Wisdom Tree Investments by 62.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,320 shares of the asset manager’s stock worth $69,000 after purchasing an additional 3,956 shares during the period. MetLife Investment Advisors LLC raised its position in shares of Wisdom Tree Investments by 51.6% during the third quarter. MetLife Investment Advisors LLC now owns 81,408 shares of the asset manager’s stock worth $690,000 after purchasing an additional 27,720 shares during the period. Royce & Associates LP raised its position in shares of Wisdom Tree Investments by 77.8% during the fourth quarter. Royce & Associates LP now owns 208,000 shares of the asset manager’s stock worth $1,383,000 after purchasing an additional 91,000 shares during the period. Finally, Standard Life Aberdeen plc raised its position in shares of Wisdom Tree Investments by 6.4% during the third quarter. Standard Life Aberdeen plc now owns 4,545,279 shares of the asset manager’s stock worth $38,567,000 after purchasing an additional 272,344 shares during the period. 71.84% of the stock is currently owned by institutional investors.
NASDAQ:WETF opened at $7.54 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 1.88 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.20 billion, a P/E ratio of 23.56, a PEG ratio of 2.87 and a beta of 1.66. Wisdom Tree Investments Inc has a 52-week low of $5.73 and a 52-week high of $11.82.
Wisdom Tree Investments (NASDAQ:WETF) last posted its quarterly earnings data on Friday, February 1st. The asset manager reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). The firm had revenue of $67.90 million for 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 firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 earnings per share. On average, research analysts predict that Wisdom Tree Investments Inc will post 0.26 earnings per share for the current year.
A number of research firms recently issued reports on WETF. ValuEngine upgraded Wisdom Tree Investments from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 12th. BidaskClub downgraded Wisdom Tree Investments from a “hold” rating to a “sell” rating in a report on Wednesday, March 13th. Zacks Investment Research upgraded Wisdom Tree Investments from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Saturday. Citigroup upgraded Wisdom Tree Investments from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $6.50 in a report on Tuesday, December 18th. Finally, Northland Securities reiterated a “hold” rating and set a $9.00 price objective on shares of Wisdom Tree Investments in a report on Friday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.50.
In related news, CEO Jonathan L. Steinberg purchased 85,000 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was purchased at an average cost of $5.98 per share, for a total transaction of $508,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter M. Ziemba purchased 16,000 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was bought at an average price of $6.07 per share, with a total value of $97,120.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 164,500 shares of company stock valued at $982,285. 14.50% of the stock is owned by corporate insiders.
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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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