WisdomTree (NYSE:WT) Sets New 12-Month High – Here’s What Happened

WisdomTree, Inc. (NYSE:WT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $21.23 and last traded at $20.6650, with a volume of 2808803 shares trading hands. The stock had previously closed at $20.24.

Analysts Set New Price Targets

WT has been the topic of a number of recent research reports. Zacks Research raised WisdomTree from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Morgan Stanley upped their price target on WisdomTree from $18.00 to $20.50 and gave the company an “equal weight” rating in a report on Friday, June 26th. Raymond James Financial began coverage on WisdomTree in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $20.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $16.80 price objective on shares of WisdomTree in a report on Tuesday, May 5th. Finally, Wall Street Zen cut WisdomTree from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

WisdomTree Stock Down 0.8%

The company has a current ratio of 4.57, a quick ratio of 4.18 and a debt-to-equity ratio of 2.37. The business’s fifty day moving average price is $18.66 and its 200 day moving average price is $16.94. The company has a market capitalization of $3.02 billion, a P/E ratio of 48.20 and a beta of 1.18.

WisdomTree (NYSE:WT) last posted its earnings results on Friday, May 1st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. WisdomTree had a net margin of 11.26% and a return on equity of 33.31%. The business had revenue of $159.50 million for the quarter, compared to analysts’ expectations of $156.96 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. As a group, equities research analysts predict that WisdomTree, Inc. will post 1.14 earnings per share for the current fiscal year.

WisdomTree Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, May 13th. WisdomTree’s dividend payout ratio is currently 29.27%.

Insider Activity at WisdomTree

In other news, COO R Jarrett Lilien sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $18.99, for a total value of $569,700.00. Following the completion of the transaction, the chief operating officer directly owned 1,110,245 shares of the company’s stock, valued at approximately $21,083,552.55. This represents a 2.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David M. Yates sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total value of $270,900.00. Following the transaction, the insider owned 157,499 shares of the company’s stock, valued at $2,844,431.94. This trade represents a 8.70% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On WisdomTree

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of WisdomTree by 556.4% in the 1st quarter. Bank of America Corp DE now owns 2,327,389 shares of the company’s stock worth $33,887,000 after purchasing an additional 1,972,847 shares during the last quarter. Amundi increased its position in shares of WisdomTree by 9.0% during the 1st quarter. Amundi now owns 20,300 shares of the company’s stock worth $296,000 after purchasing an additional 1,680 shares in the last quarter. California State Teachers Retirement System lifted its holdings in WisdomTree by 25.8% during the 1st quarter. California State Teachers Retirement System now owns 158,271 shares of the company’s stock valued at $2,304,000 after purchasing an additional 32,495 shares during the last quarter. Maverick Capital Ltd. bought a new position in WisdomTree during the 1st quarter valued at about $621,000. Finally, Quantinno Capital Management LP lifted its holdings in WisdomTree by 178.9% during the 1st quarter. Quantinno Capital Management LP now owns 163,727 shares of the company’s stock valued at $2,384,000 after purchasing an additional 105,023 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

About WisdomTree

WisdomTree Investments, Inc (NYSE: WT) is a U.S.-based asset management firm specializing in exchange-traded funds (ETFs) and exchange-traded products (ETPs). Founded in 2006 by Jonathan Steinberg and headquartered in New York City, WisdomTree has developed a reputation for pioneering smart-beta and fundamentally weighted indexing approaches. The company designs strategies that seek to enhance returns and reduce volatility by weighting constituents based on dividends, earnings or other financial metrics rather than relying solely on market capitalization.

WisdomTree offers a broad suite of investment products covering equities, fixed income, currencies, commodities and digital assets.