WisdomTree (NYSE:WT) Raised to “Strong-Buy” at Zacks Research

WisdomTree (NYSE:WT) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

WT has been the subject of a number of other reports. The Goldman Sachs Group raised their target price on WisdomTree from $16.40 to $18.30 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded WisdomTree from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Northland Securities boosted their price objective on shares of WisdomTree from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Morgan Stanley upped their target price on WisdomTree from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Wall Street Zen raised shares of WisdomTree from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, WisdomTree has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

WisdomTree Stock Up 0.7%

Shares of NYSE WT opened at $24.23 on Monday. The company has a quick ratio of 2.73, a current ratio of 3.00 and a debt-to-equity ratio of 2.53. The business’s 50 day moving average is $22.72 and its two-hundred day moving average is $19.30. WisdomTree has a 52-week low of $10.69 and a 52-week high of $25.91. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 46.59 and a beta of 1.20.

WisdomTree (NYSE:WT) last released its quarterly earnings results on Friday, July 31st. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%.The business had revenue of $177.16 million during the quarter, compared to analyst estimates of $170.62 million. During the same period last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 57.3% on a year-over-year basis. Research analysts predict that WisdomTree will post 1.22 EPS for the current year.

Insider Buying and Selling at WisdomTree

In related news, COO R. Jarrett Lilien sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $24.56, for a total transaction of $736,800.00. Following the transaction, the chief operating officer owned 1,080,245 shares of the company’s stock, valued at approximately $26,530,817.20. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WisdomTree

Hedge funds have recently made changes to their positions in the business. Junto Capital Management LP purchased a new stake in WisdomTree during the 2nd quarter worth $19,838,000. Nykredit A S purchased a new stake in shares of WisdomTree in the second quarter worth about $27,000. Amundi raised its holdings in shares of WisdomTree by 390.5% during the 2nd quarter. Amundi now owns 99,579 shares of the company’s stock valued at $1,687,000 after buying an additional 79,279 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in WisdomTree during the 2nd quarter worth approximately $1,168,000. Finally, Round Rock Advisors LLC boosted its holdings in WisdomTree by 49.5% in the 2nd quarter. Round Rock Advisors LLC now owns 15,062 shares of the company’s stock worth $255,000 after acquiring an additional 4,984 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 operates as an exchange-traded fund (ETF) and exchange-traded product sponsor and asset manager. The company develops and manages investment strategies designed to provide exposure to equities, fixed income, currencies, commodities, alternatives and other asset classes.

Its product offerings include dividend-focused, growth and value ETFs, actively managed funds, currency and commodity products, and funds focused on environmental, social and governance themes.