WisdomTree (NYSE:WT) Stock Rating Reaffirmed by Oppenheimer

WisdomTree (NYSE:WT)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer in a research note issued on Monday, Benzinga reports. They presently have a $11.00 price objective on the stock. Oppenheimer’s price target points to a potential upside of 23.60% from the stock’s previous close.

Several other brokerages have also recently weighed in on WT. Morgan Stanley boosted their target price on WisdomTree from $7.75 to $9.25 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Northland Securities upgraded WisdomTree from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Wednesday, April 3rd. UBS Group lifted their price target on WisdomTree from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Craig Hallum initiated coverage on shares of WisdomTree in a report on Wednesday, March 6th. They issued a “buy” rating and a $12.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, WisdomTree has an average rating of “Moderate Buy” and an average price target of $10.88.

WisdomTree Stock Performance

Shares of NYSE:WT opened at $8.90 on Monday. The business’s 50 day moving average price is $8.67 and its 200-day moving average price is $7.43. WisdomTree has a 1 year low of $6.05 and a 1 year high of $9.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.95 and a quick ratio of 2.18. The firm has a market capitalization of $1.35 billion, a PE ratio of 13.09 and a beta of 1.49.

WisdomTree (NYSE:WT) last released its earnings results on Friday, April 26th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $96.84 million during the quarter, compared to analyst estimates of $94.32 million. WisdomTree had a net margin of 29.80% and a return on equity of 16.31%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share. As a group, equities research analysts expect that WisdomTree will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jonathan L. Steinberg purchased 303,781 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $7.20 per share, for a total transaction of $2,187,223.20. Following the completion of the transaction, the chief executive officer now directly owns 9,172,838 shares in the company, valued at $66,044,433.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of WisdomTree by 0.3% in the first quarter. Principal Financial Group Inc. now owns 579,193 shares of the company’s stock valued at $5,323,000 after purchasing an additional 1,542 shares during the period. Caas Capital Management LP acquired a new stake in WisdomTree during the 1st quarter worth approximately $683,000. New York State Teachers Retirement System boosted its position in WisdomTree by 5.0% in the 1st quarter. New York State Teachers Retirement System now owns 223,946 shares of the company’s stock valued at $2,058,000 after buying an additional 10,581 shares during the period. Quadrature Capital Ltd acquired a new position in shares of WisdomTree in the fourth quarter worth $308,000. Finally, Wellington Management Group LLP increased its position in shares of WisdomTree by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 3,897,242 shares of the company’s stock worth $27,008,000 after acquiring an additional 141,354 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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.