WisdomTree (NYSE:WT) Sets New 1-Year High – What’s Next?

WisdomTree, Inc. (NYSE:WT) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.40 and last traded at $23.1540, with a volume of 54850 shares trading hands. The stock had previously closed at $22.86.

Wall Street Analyst Weigh In

A number of research firms recently commented on WT. Zacks Research downgraded shares of WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Raymond James Financial began coverage on WisdomTree in a research note on Tuesday, April 21st. They set an “outperform” rating and a $20.00 price target on the stock. Oppenheimer upped their price target on WisdomTree from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley set a $21.00 price objective on WisdomTree in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised WisdomTree from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.66.

WisdomTree Stock Performance

The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 44.90 and a beta of 1.17. The stock’s 50 day moving average is $19.51 and its 200 day moving average is $17.76. The company has a current ratio of 3.00, a quick ratio of 2.73 and a debt-to-equity ratio of 2.53.

WisdomTree (NYSE:WT) last posted its earnings results on Friday, July 31st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $177.16 million during the quarter, compared to the consensus estimate of $170.62 million. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. On average, analysts predict that WisdomTree, Inc. will post 1.17 earnings per share for the current year.

WisdomTree Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 12th. WisdomTree’s dividend payout ratio (DPR) is 23.08%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in WisdomTree during the second quarter worth $326,513,000. Wellington Management Group LLP lifted its position in shares of WisdomTree by 236.5% in the third quarter. Wellington Management Group LLP now owns 9,674,630 shares of the company’s stock valued at $134,477,000 after acquiring an additional 6,799,654 shares in the last quarter. Azora Capital LP purchased a new stake in shares of WisdomTree in the second quarter valued at $104,698,000. Capital World Investors purchased a new stake in shares of WisdomTree in the fourth quarter valued at $30,835,000. Finally, Bank of America Corp DE acquired a new stake in shares of WisdomTree during the second quarter valued at $33,743,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.