UPDATE: Gabelli & Company Upgrades WisdomTree Investments to Buy

In a report published Wednesday, Gabelli & Company upgraded its rating on WisdomTree Investments (NASDAQ: WETF) from Hold to Buy.

Gabelli noted, “We are increasing our 2013P estimate to $0.29 per share from $0.25 per share. Our revision incorporates the operating benefits from the deal expiration with BNY Melon and lower professional fees. We continue to believe in the seasoned management team and long-term competitive aspects of WisdomTree. Shares currently trade at a 20% discount to 2013 Private Market Value of $8.00 per share. We recommend purchase.”

WisdomTree Investments closed on Tuesday at $6.10.

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