WisdomTree (NYSE:WT) Hits New 12-Month High – Here’s What Happened

WisdomTree, Inc. (NYSE:WT)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $23.40 and last traded at $23.1540, with a volume of 54850 shares traded. The stock had previously closed at $22.86.

Analyst Ratings Changes

WT has been the subject of several research reports. Northland Securities upped their price objective on shares of WisdomTree from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley set a $21.00 target price on shares of WisdomTree in a research note on Wednesday, July 29th. Zacks Research lowered WisdomTree from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. The Goldman Sachs Group upped their price target on WisdomTree from $16.40 to $18.30 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Finally, Oppenheimer lifted their price objective on WisdomTree from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.46.

WisdomTree Price Performance

The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.73 and a current ratio of 3.00. The stock’s 50-day moving average is $19.74 and its two-hundred day moving average is $17.85. The stock has a market cap of $3.43 billion, a PE ratio of 43.56 and a beta of 1.17.

WisdomTree (NYSE:WT) last announced its earnings results on Friday, July 31st. The company reported $0.31 earnings per share (EPS) 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 analyst estimates of $170.62 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. On average, equities analysts predict that WisdomTree, Inc. will post 1.18 earnings per share for the current year.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.12 annualized dividend and a yield of 0.5%. WisdomTree’s dividend payout ratio is presently 23.08%.

Hedge Funds Weigh In On WisdomTree

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of WisdomTree during the second quarter worth about $326,513,000. Wellington Management Group LLP grew its holdings in shares of WisdomTree by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 11,196,229 shares of the company’s stock valued at $136,482,000 after purchasing an additional 1,521,599 shares in the last quarter. Azora Capital LP acquired a new position in shares of WisdomTree in the second quarter valued at approximately $104,698,000. Simcoe Capital Management LLC increased its stake in WisdomTree by 11.3% during the 4th quarter. Simcoe Capital Management LLC now owns 5,253,340 shares of the company’s stock worth $64,038,000 after buying an additional 535,015 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in WisdomTree by 41.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,134,430 shares of the company’s stock worth $60,197,000 after buying an additional 1,205,097 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

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.