WisdomTree (NYSE:WT) Reaches New 52-Week High After Analyst Upgrade

WisdomTree, Inc. (NYSE:WT)’s stock price reached a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $9.75 to $11.00. Morgan Stanley currently has an equal weight rating on the stock. WisdomTree traded as high as $12.54 and last traded at $12.47, with a volume of 3064570 shares traded. The stock had previously closed at $12.25.

A number of other analysts have also recently commented on the company. The Goldman Sachs Group upgraded WisdomTree from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $9.50 to $11.90 in a research report on Friday, June 27th. Northcoast Research upgraded WisdomTree from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.99.

Institutional Trading of WisdomTree

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

WisdomTree Stock Up 3.8%

The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.79 and a current ratio of 3.83. The company has a market cap of $1.87 billion, a PE ratio of 36.34 and a beta of 1.14. The firm has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $9.50.

WisdomTree (NYSE:WT) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.16 earnings per share for the quarter, meeting 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 return on equity of 25.46% and a net margin of 15.77%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Equities research analysts predict that WisdomTree, Inc. will post 0.72 EPS for the current year.

WisdomTree Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, May 14th. WisdomTree’s dividend payout ratio is currently 34.29%.

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.