WisdomTree (NYSE:WT) Sets New 52-Week High – Time to Buy?

WisdomTree, Inc. (NYSE:WT) reached a new 52-week high during trading on Thursday . The company traded as high as $20.21 and last traded at $20.0770, with a volume of 307173 shares changing hands. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $16.80 price target on shares of WisdomTree in a research report on Tuesday, May 5th. Northland Securities set a $22.00 target price on WisdomTree in a report on Tuesday, June 2nd. Zacks Research raised WisdomTree from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Morgan Stanley increased their price target on shares of WisdomTree from $18.00 to $20.50 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, Raymond James Financial assumed coverage on WisdomTree in a report on Tuesday, April 21st. They issued an “outperform” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, WisdomTree presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

WisdomTree Price Performance

The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 49.22 and a beta of 1.18. The stock’s 50-day moving average price is $18.55 and its 200 day moving average price is $16.61. The company has a quick ratio of 4.18, a current ratio of 4.57 and a debt-to-equity ratio of 2.37.

WisdomTree (NYSE:WT) last released its quarterly earnings data on Friday, May 1st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. WisdomTree had a net margin of 11.26% and a return on equity of 33.31%. The company had revenue of $159.50 million during the quarter, compared to the consensus estimate of $156.96 million. During the same quarter in the prior year, the firm earned $0.16 EPS. WisdomTree’s quarterly revenue was up 47.5% on a year-over-year basis. Equities research analysts expect that WisdomTree, Inc. will post 1.14 earnings per share for the current fiscal year.

WisdomTree Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. WisdomTree’s payout ratio is 29.27%.

Insider Buying and Selling at WisdomTree

In other news, COO R Jarrett Lilien sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $18.99, for a total transaction of $569,700.00. Following the transaction, the chief operating officer owned 1,110,245 shares of the company’s stock, valued at approximately $21,083,552.55. The trade was a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David M. Yates sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.06, for a total transaction of $270,900.00. Following the completion of the sale, the insider directly owned 157,499 shares of the company’s stock, valued at $2,844,431.94. This represents a 8.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.10% of the stock is owned by corporate insiders.

Institutional Trading of WisdomTree

Several hedge funds have recently made changes to their positions in the company. Team Financial Group LLC purchased a new position in WisdomTree in the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its position in WisdomTree by 163.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,454 shares of the company’s stock valued at $30,000 after purchasing an additional 1,521 shares during the period. Quarry LP lifted its stake in shares of WisdomTree by 1,679.0% in the 3rd quarter. Quarry LP now owns 2,206 shares of the company’s stock valued at $31,000 after purchasing an additional 2,082 shares during the last quarter. Quattro Advisors LLC purchased a new position in shares of WisdomTree during the 4th quarter worth $31,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of WisdomTree during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

About WisdomTree

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.