WisdomTree (NYSE:WT) Stock Rating Cut to Hold at Zacks Research

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

Several other analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on WisdomTree from $18.30 to $21.30 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Northland Securities boosted their price target on WisdomTree from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Weiss Ratings raised WisdomTree from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen cut WisdomTree from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Oppenheimer raised their price target on WisdomTree from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.72.

WisdomTree Price Performance

Shares of NYSE:WT opened at $21.29 on Tuesday. The firm’s 50 day moving average is $23.18 and its two-hundred day moving average is $18.96. WisdomTree has a 52 week low of $10.69 and a 52 week high of $25.91. The firm has a market capitalization of $3.23 billion, a P/E ratio of 40.95 and a beta of 1.17. The company has a current ratio of 3.00, a quick ratio of 2.73 and a debt-to-equity ratio of 2.53.

WisdomTree (NYSE:WT) last released its quarterly earnings results on Friday, July 31st. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%. The company had revenue of $177.16 million for the quarter, compared to analysts’ expectations of $170.62 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. Analysts anticipate that WisdomTree will post 1.20 earnings per share for the current year.

Insider Buying and Selling

In related news, COO R. Jarrett Lilien sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $24.56, for a total transaction of $736,800.00. Following the sale, the chief operating officer owned 1,080,245 shares of the company’s stock, valued at $26,530,817.20. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WisdomTree

A number of institutional investors have recently added to or reduced their stakes in WT. GAMMA Investing LLC lifted its stake in WisdomTree by 13.6% during the third quarter. GAMMA Investing LLC now owns 5,819 shares of the company’s stock valued at $141,000 after purchasing an additional 697 shares during the last quarter. Clearstead Trust LLC acquired a new position in WisdomTree in the second quarter worth approximately $92,000. Pictet Asset Management Holding SA grew its position in WisdomTree by 5.3% in the first quarter. Pictet Asset Management Holding SA now owns 21,947 shares of the company’s stock worth $320,000 after buying an additional 1,108 shares during the last quarter. World Investment Advisors grew its position in WisdomTree by 13.9% in the first quarter. World Investment Advisors now owns 11,931 shares of the company’s stock worth $174,000 after buying an additional 1,457 shares during the last quarter. Finally, Nykredit A S bought a new position in shares of WisdomTree in the second quarter valued at $27,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About WisdomTree

WisdomTree, Inc is a financial services company that sponsors and manages exchange-traded funds (ETFs) and exchange-traded products. Its offerings provide access to equities, fixed income, currencies, commodities, alternatives and other asset classes through rules-based investment strategies designed for individual and institutional investors.

The company also provides model portfolios, separately managed accounts and other investment solutions for financial professionals. In addition, WisdomTree has developed products and capabilities related to digital assets and blockchain-enabled financial services, subject to applicable regulatory requirements.

Founded in 1985 and formerly known as WisdomTree Investments, the company launched its first ETFs in 2006 and became known for dividend-focused and fundamentally weighted strategies.