WisdomTree (NYSE:WT) Reaches New 1-Year High Following Analyst Upgrade

WisdomTree, Inc. (NYSE:WT)’s stock price reached a new 52-week high during 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. The stock had previously closed at $12.25.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Quarry LP lifted its position in shares of WisdomTree by 1,778.5% during the fourth quarter. Quarry LP now owns 2,799 shares of the company’s stock valued at $29,000 after purchasing an additional 2,650 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of WisdomTree by 114.0% during the first quarter. Byrne Asset Management LLC now owns 3,852 shares of the company’s stock valued at $34,000 after purchasing an additional 2,052 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of WisdomTree by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,793 shares of the company’s stock valued at $39,000 after purchasing an additional 2,405 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of WisdomTree by 310.5% during the first quarter. Versant Capital Management Inc now owns 5,263 shares of the company’s stock valued at $47,000 after purchasing an additional 3,981 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of WisdomTree by 60.7% during the fourth quarter. Federated Hermes Inc. now owns 4,705 shares of the company’s stock valued at $49,000 after purchasing an additional 1,777 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

WisdomTree Price Performance

The company has a quick ratio of 2.79, a current ratio of 3.83 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average is $9.91 and its two-hundred day moving average is $9.49. The company has a market capitalization of $1.87 billion, a P/E ratio of 36.34 and a beta of 1.14.

WisdomTree (NYSE:WT) last released its earnings results on Friday, May 2nd. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $108.08 million for the quarter, compared to analysts’ expectations of $108.47 million. WisdomTree had a net margin of 15.77% and a return on equity of 25.46%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, analysts predict that WisdomTree, Inc. will post 0.72 earnings per share for the current year.

WisdomTree Announces Dividend

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