Whittier Trust Co. grew its holdings in shares of Wisdom Tree Investments Inc (NASDAQ:WETF) by 5.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 114,348 shares of the asset manager’s stock after buying an additional 5,494 shares during the period. Whittier Trust Co.’s holdings in Wisdom Tree Investments were worth $705,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Magnus Financial Group LLC acquired a new position in Wisdom Tree Investments in the first quarter valued at $82,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Wisdom Tree Investments by 36.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,314 shares of the asset manager’s stock valued at $122,000 after acquiring an additional 4,659 shares in the last quarter. Amalgamated Bank acquired a new position in Wisdom Tree Investments in the fourth quarter valued at $126,000. Everence Capital Management Inc. boosted its stake in Wisdom Tree Investments by 131.7% in the first quarter. Everence Capital Management Inc. now owns 23,400 shares of the asset manager’s stock valued at $165,000 after acquiring an additional 13,300 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Wisdom Tree Investments by 670.4% in the first quarter. BNP Paribas Arbitrage SA now owns 27,348 shares of the asset manager’s stock valued at $193,000 after acquiring an additional 23,798 shares in the last quarter. 74.25% of the stock is currently owned by hedge funds and other institutional investors.
In other Wisdom Tree Investments news, CEO Jonathan L. Steinberg bought 75,000 shares of Wisdom Tree Investments stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $6.57 per share, with a total value of $492,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.90% of the stock is currently owned by corporate insiders.
Wisdom Tree Investments (NASDAQ:WETF) last announced its earnings results on Friday, July 26th. The asset manager reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Wisdom Tree Investments had a net margin of 8.00% and a return on equity of 11.09%. The business had revenue of $66.30 million during the quarter, compared to analysts’ expectations of $66.98 million. During the same period in the previous year, the company posted $0.10 earnings per share. Wisdom Tree Investments’s quarterly revenue was down 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Wisdom Tree Investments Inc will post 0.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be issued a $0.03 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.13%. Wisdom Tree Investments’s payout ratio is 37.50%.
WETF has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Wisdom Tree Investments from a “hold” rating to a “sell” rating in a research note on Sunday, July 14th. Northland Securities restated a “hold” rating and issued a $9.00 price objective on shares of Wisdom Tree Investments in a research note on Friday, April 12th. ValuEngine cut shares of Wisdom Tree Investments from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, BidaskClub cut shares of Wisdom Tree Investments from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Wisdom Tree Investments presently has an average rating of “Sell” and an average target price of $7.80.
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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