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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WT shares. Zacks Research upgraded WisdomTree from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings downgraded shares of WisdomTree from a “buy (b)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Oppenheimer raised their price objective on shares of WisdomTree from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Raymond James Financial started coverage on shares of WisdomTree in a report on Tuesday, April 21st. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Morgan Stanley upped their target price on shares of WisdomTree from $18.00 to $20.50 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

WisdomTree Stock Performance

The business’s 50 day simple moving average is $18.65 and its two-hundred day simple moving average is $16.84. The firm has a market capitalization of $3.16 billion, a PE ratio of 50.40 and a beta of 1.18. The company has a current ratio of 4.57, a quick ratio of 4.18 and a debt-to-equity ratio of 2.37.

WisdomTree (NYSE:WT) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. WisdomTree had a return on equity of 33.31% and a net margin of 11.26%.The company had revenue of $159.50 million during the quarter, compared to analyst estimates of $156.96 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. WisdomTree’s revenue was up 47.5% compared to the same quarter last year. Research analysts expect that WisdomTree, Inc. will post 1.14 earnings per share for the current fiscal year.

WisdomTree Dividend Announcement

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

Insider Activity at WisdomTree

In related news, insider David M. Yates sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $18.06, for a total transaction of $270,900.00. Following the completion of the sale, the insider directly owned 157,499 shares in the company, valued at approximately $2,844,431.94. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO R Jarrett Lilien sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $18.99, for a total transaction of $569,700.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WisdomTree

A number of hedge funds have recently modified their holdings of the business. Team Financial Group LLC purchased a new stake in shares of WisdomTree in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its position in WisdomTree by 163.0% during the fourth 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. Quarry LP lifted its position in WisdomTree by 1,679.0% during the third 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. Quattro Advisors LLC bought a new stake in WisdomTree during the fourth quarter valued at about $31,000. Finally, Flagship Harbor Advisors LLC bought a new stake in WisdomTree during the fourth quarter valued at about $36,000. Institutional investors own 78.64% of the company’s stock.

WisdomTree Company Profile

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.