WisdomTree (NYSE:WT) Stock Gets Downgrade from Zacks Research

WisdomTree (NYSE:WT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group increased their price target on shares of WisdomTree from $18.30 to $21.30 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Wall Street Zen downgraded shares of WisdomTree from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Northland Securities upped their target price on shares of WisdomTree from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Raymond James Financial reaffirmed an “outperform” rating and issued a $26.00 target price on shares of WisdomTree in a research report on Thursday, August 27th. Finally, Morgan Stanley dropped their target price on shares of WisdomTree from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, WisdomTree presently has an average rating of “Moderate Buy” and a consensus target price of $25.72.

WisdomTree Trading Up 0.3%

WT opened at $21.29 on Tuesday. WisdomTree has a one year low of $10.69 and a one year high of $25.91. The company has a market cap of $3.23 billion, a P/E ratio of 40.95 and a beta of 1.17. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.73 and a current ratio of 3.00. The business’s 50-day simple moving average is $23.18 and its 200-day simple moving average is $18.96.

WisdomTree (NYSE:WT) last issued its earnings results on Friday, July 31st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $177.16 million for the quarter, compared to analyst estimates of $170.62 million. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%. The business’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. As a group, equities research analysts expect that WisdomTree will post 1.20 EPS for the current fiscal year.

Insider Activity

In related news, COO R. Jarrett Lilien sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $24.56, for a total value of $736,800.00. Following the completion of the sale, the chief operating officer directly owned 1,080,245 shares of the company’s stock, valued at $26,530,817.20. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. State of Wyoming increased its stake in WisdomTree by 52.7% in the third quarter. State of Wyoming now owns 46,972 shares of the company’s stock valued at $1,141,000 after purchasing an additional 16,215 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of WisdomTree by 37.4% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 94,750 shares of the company’s stock valued at $2,301,000 after buying an additional 25,800 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of WisdomTree by 839.2% in the third quarter. Sterling Capital Management LLC now owns 4,499 shares of the company’s stock valued at $109,000 after buying an additional 4,020 shares during the last quarter. James Investment Research Inc. boosted its stake in shares of WisdomTree by 6.5% during the third quarter. James Investment Research Inc. now owns 65,499 shares of the company’s stock worth $1,591,000 after buying an additional 3,984 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of WisdomTree by 7.6% during the third quarter. Yousif Capital Management LLC now owns 34,736 shares of the company’s stock worth $844,000 after buying an additional 2,468 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

WisdomTree Company Profile

WisdomTree, Inc is a financial services company that sponsors and manages exchange-traded funds (ETFs) and exchange-traded products. Its offerings provide access to equities, fixed income, currencies, commodities, alternatives and other asset classes through rules-based investment strategies designed for individual and institutional investors.

The company also provides model portfolios, separately managed accounts and other investment solutions for financial professionals. In addition, WisdomTree has developed products and capabilities related to digital assets and blockchain-enabled financial services, subject to applicable regulatory requirements.

Founded in 1985 and formerly known as WisdomTree Investments, the company launched its first ETFs in 2006 and became known for dividend-focused and fundamentally weighted strategies.