WisdomTree (NYSE:WT) Hits New 1-Year High – Here’s What Happened

WisdomTree, Inc. (NYSE:WT) reached a new 52-week high during trading on Thursday . The stock traded as high as $23.29 and last traded at $22.4360, with a volume of 44220 shares traded. The stock had previously closed at $22.73.

Analyst Ratings Changes

Several equities analysts have issued reports on WT shares. Zacks Research cut shares of WisdomTree from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Oppenheimer lifted their price target on shares of WisdomTree from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Raymond James Financial assumed coverage on shares of WisdomTree in a report on Tuesday, April 21st. They set an “outperform” rating and a $20.00 price objective for the company. Wall Street Zen upgraded shares of WisdomTree from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Morgan Stanley set a $21.00 price objective on shares of WisdomTree in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, WisdomTree has an average rating of “Hold” and an average target price of $20.66.

WisdomTree Price Performance

The firm has a 50-day simple moving average of $19.12 and a 200-day simple moving average of $17.58. The firm has a market capitalization of $3.39 billion, a PE ratio of 43.08 and a beta of 1.17. The company has a debt-to-equity ratio of 2.53, a current ratio of 3.00 and a quick ratio of 2.73.

WisdomTree (NYSE:WT) last released its quarterly earnings results on Friday, July 31st. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The firm had revenue of $177.16 million during the quarter, compared to analyst estimates of $170.62 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. As a group, equities analysts forecast that WisdomTree, Inc. will post 1.17 earnings per share for the current year.

WisdomTree Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, August 12th. WisdomTree’s payout ratio is 23.08%.

Insider Buying and Selling

In other WisdomTree news, 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 completion of 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On WisdomTree

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of WisdomTree in the 2nd quarter worth $326,513,000. Wellington Management Group LLP raised its holdings in WisdomTree by 15.7% in the 4th quarter. Wellington Management Group LLP now owns 11,196,229 shares of the company’s stock worth $136,482,000 after purchasing an additional 1,521,599 shares during the period. Azora Capital LP lifted its position in WisdomTree by 9.3% during the fourth quarter. Azora Capital LP now owns 6,150,111 shares of the company’s stock valued at $74,970,000 after purchasing an additional 521,179 shares in the last quarter. Simcoe Capital Management LLC lifted its position in WisdomTree by 11.3% during the fourth quarter. Simcoe Capital Management LLC now owns 5,253,340 shares of the company’s stock valued at $64,038,000 after purchasing an additional 535,015 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in WisdomTree by 41.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,134,430 shares of the company’s stock valued at $60,197,000 after purchasing an additional 1,205,097 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

About WisdomTree

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.