The Goldman Sachs Group Increases WisdomTree (NYSE:WT) Price Target to $9.50

WisdomTree (NYSE:WT) had its price objective raised by The Goldman Sachs Group from $8.50 to $9.50 in a research note released on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

WisdomTree Stock Performance

Shares of NYSE WT opened at $10.05 on Thursday. The stock has a market cap of $1.48 billion, a PE ratio of 32.42 and a beta of 1.11. WisdomTree has a 1 year low of $7.47 and a 1 year high of $12.45. The firm has a fifty day moving average price of $9.14 and a 200-day moving average price of $9.53. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.92 and a quick ratio of 2.13.

WisdomTree (NYSE:WT) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. WisdomTree had a return on equity of 24.67% and a net margin of 15.59%. The business had revenue of $108.08 million during the quarter, compared to analyst estimates of $108.47 million. During the same quarter in the prior year, the business posted $0.12 EPS. WisdomTree’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts anticipate that WisdomTree will post 0.72 earnings per share for the current fiscal year.

WisdomTree Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, May 14th. WisdomTree’s dividend payout ratio (DPR) is presently 34.29%.

Institutional Investors Weigh In On WisdomTree

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP increased its holdings in shares of WisdomTree by 1,778.5% in the fourth quarter. Quarry LP now owns 2,799 shares of the company’s stock worth $29,000 after purchasing an additional 2,650 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in WisdomTree by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,793 shares of the company’s stock valued at $39,000 after buying an additional 2,405 shares in the last quarter. Byrne Asset Management LLC increased its stake in WisdomTree by 114.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,852 shares of the company’s stock worth $34,000 after acquiring an additional 2,052 shares during the last quarter. Federated Hermes Inc. increased its stake in WisdomTree by 60.7% in the 4th quarter. Federated Hermes Inc. now owns 4,705 shares of the company’s stock worth $49,000 after acquiring an additional 1,777 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of WisdomTree by 310.5% during the 1st quarter. Versant Capital Management Inc now owns 5,263 shares of the company’s stock worth $47,000 after acquiring an additional 3,981 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

About WisdomTree

WisdomTree, 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.