WisdomTree (NYSE:WT) Price Target Raised to $11.00 at Morgan Stanley

WisdomTree (NYSE:WT) had its target price increased by investment analysts at Morgan Stanley from $9.75 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 13.52% from the company’s previous close.

Several other research analysts also recently weighed in on WT. The Goldman Sachs Group upgraded WisdomTree from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $9.50 to $11.90 in a research note on Friday, June 27th. Northcoast Research upgraded WisdomTree from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.99.

WisdomTree Trading Up 3.8%

NYSE WT opened at $12.72 on Wednesday. WisdomTree has a 52 week low of $7.47 and a 52 week high of $12.54. The company has a 50 day moving average price of $9.91 and a 200 day moving average price of $9.49. The company has a quick ratio of 2.79, a current ratio of 3.83 and a debt-to-equity ratio of 1.23. The firm has a market cap of $1.87 billion, a PE ratio of 36.34 and a beta of 1.14.

WisdomTree (NYSE:WT) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $108.08 million for the quarter, compared to analyst estimates of $108.47 million. WisdomTree had a net margin of 15.77% and a return on equity of 25.46%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, sell-side analysts forecast that WisdomTree will post 0.72 EPS for the current fiscal year.

Institutional Trading of WisdomTree

Several large investors have recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of WisdomTree by 1,778.5% in the fourth quarter. Quarry LP now owns 2,799 shares of the company’s stock worth $29,000 after purchasing an additional 2,650 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in WisdomTree by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,793 shares of the company’s stock worth $39,000 after buying an additional 2,405 shares during the period. Byrne Asset Management LLC increased its holdings in WisdomTree by 114.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,852 shares of the company’s stock worth $34,000 after buying an additional 2,052 shares during the period. Federated Hermes Inc. raised its position in WisdomTree by 60.7% during the 4th quarter. Federated Hermes Inc. now owns 4,705 shares of the company’s stock worth $49,000 after buying an additional 1,777 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in WisdomTree by 310.5% during the 1st quarter. Versant Capital Management Inc now owns 5,263 shares of the company’s stock valued at $47,000 after acquiring an additional 3,981 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

WisdomTree Company Profile

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.