WisdomTree (NYSE:WT) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of WisdomTree (NYSE:WT) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

WT has been the subject of a number of other reports. Northland Securities set a $22.00 price target on shares of WisdomTree in a report on Tuesday, June 2nd. Raymond James Financial started coverage on shares of WisdomTree in a report on Tuesday, April 21st. They set an “outperform” rating and a $20.00 price objective on the stock. Morgan Stanley increased their price objective on shares of WisdomTree from $18.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Wall Street Zen downgraded WisdomTree from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.80 target price on shares of WisdomTree in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, WisdomTree currently has a consensus rating of “Hold” and an average price target of $20.06.

WisdomTree Price Performance

Shares of WT opened at $19.40 on Monday. The firm has a market cap of $2.97 billion, a PE ratio of 47.32 and a beta of 1.18. WisdomTree has a 52-week low of $10.69 and a 52-week high of $21.23. The business’s 50 day moving average price is $18.68 and its two-hundred day moving average price is $17.07. The company has a debt-to-equity ratio of 2.37, a quick ratio of 4.18 and a current ratio of 4.57.

WisdomTree (NYSE:WT) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $159.50 million during the quarter, compared to the consensus estimate of $156.96 million. WisdomTree had a net margin of 11.26% and a return on equity of 33.31%. The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, equities analysts anticipate that WisdomTree will post 1.14 EPS for the current year.

Insider Buying and Selling at WisdomTree

In other WisdomTree news, COO R Jarrett Lilien sold 30,000 shares of the business’s stock in a transaction 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 owned 1,110,245 shares in the company, valued at approximately $21,083,552.55. The trade was a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David M. Yates sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total transaction of $270,900.00. Following the transaction, the insider owned 157,499 shares in the company, valued at approximately $2,844,431.94. The trade was a 8.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On WisdomTree

A number of hedge funds have recently added to or reduced their stakes in WT. Team Financial Group LLC purchased a new stake in shares of WisdomTree in the first quarter worth approximately $29,000. Quarry LP lifted its holdings in shares of WisdomTree by 1,679.0% in the third quarter. Quarry LP now owns 2,206 shares of the company’s stock valued at $31,000 after purchasing an additional 2,082 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of WisdomTree by 163.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,454 shares of the company’s stock valued at $30,000 after buying an additional 1,521 shares during the last quarter. Quattro Advisors LLC purchased a new position in shares of WisdomTree during the fourth quarter valued at approximately $31,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of WisdomTree during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

WisdomTree Company Profile

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.