WisdomTree (NYSE:WT) Hits New 12-Month High – Here’s Why

WisdomTree, Inc. (NYSE:WTGet Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $19.62 and last traded at $19.3960, with a volume of 3371793 shares traded. The stock had previously closed at $19.10.

Analyst Upgrades and Downgrades

WT has been the topic of a number of research reports. Weiss Ratings downgraded WisdomTree from a “buy (b)” rating to a “hold (c)” rating in a report on Friday. Wall Street Zen downgraded WisdomTree from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group restated a “neutral” rating and issued a $16.80 price objective on shares of WisdomTree in a report on Tuesday, May 5th. Raymond James Financial initiated coverage on WisdomTree in a report on Tuesday, April 21st. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Oppenheimer raised their price objective on WisdomTree from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, WisdomTree currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.47.

View Our Latest Analysis on WT

WisdomTree Trading Up 1.5%

The company has a quick ratio of 4.18, a current ratio of 4.57 and a debt-to-equity ratio of 2.37. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 47.31 and a beta of 1.13. The business has a 50 day moving average price of $16.11 and a 200-day moving average price of $14.34.

WisdomTree (NYSE:WTGet Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. WisdomTree had a return on equity of 33.31% and a net margin of 11.26%.The business had revenue of $159.50 million during the quarter, compared to analyst estimates of $156.96 million. During the same quarter last year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, research analysts expect that WisdomTree, Inc. will post 1.11 EPS for the current fiscal year.

WisdomTree Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. WisdomTree’s dividend payout ratio (DPR) is 29.27%.

Insider Transactions at WisdomTree

In other news, insider David M. Yates sold 15,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total value of $270,900.00. Following the completion of the sale, the insider owned 157,499 shares in the company, valued at approximately $2,844,431.94. This trade represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO R Jarrett Lilien sold 30,000 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $16.84, for a total value of $505,200.00. Following the completion of the sale, the chief operating officer owned 1,140,245 shares of the company’s stock, valued at approximately $19,201,725.80. This trade represents a 2.56% decrease in their position. The SEC filing for this sale provides additional information. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WisdomTree

Large investors have recently modified their holdings of the stock. Team Financial Group LLC acquired a new stake in WisdomTree during the 1st quarter valued at approximately $29,000. Quarry LP grew its stake in WisdomTree by 1,679.0% during the 3rd quarter. Quarry LP now owns 2,206 shares of the company’s stock valued at $31,000 after purchasing an additional 2,082 shares in the last quarter. First Horizon Corp acquired a new stake in WisdomTree during the 3rd quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd grew its stake in WisdomTree by 163.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,454 shares of the company’s stock valued at $30,000 after purchasing an additional 1,521 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new stake in WisdomTree during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

About WisdomTree

(Get Free Report)

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.

Further Reading

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