Bank of New York Mellon Corp Sells 790,022 Shares of WisdomTree, Inc. (NYSE:WT)

Bank of New York Mellon Corp lowered its stake in shares of WisdomTree, Inc. (NYSE:WT) by 37.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,318,746 shares of the company’s stock after selling 790,022 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of WisdomTree worth $11,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Millennium Management LLC lifted its position in WisdomTree by 532.6% during the 4th quarter. Millennium Management LLC now owns 2,031,534 shares of the company’s stock valued at $21,331,000 after purchasing an additional 1,710,409 shares during the period. Nuveen Asset Management LLC lifted its position in WisdomTree by 139.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,270,963 shares of the company’s stock valued at $13,345,000 after purchasing an additional 741,134 shares during the period. ExodusPoint Capital Management LP lifted its position in WisdomTree by 127.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 1,162,993 shares of the company’s stock valued at $12,211,000 after purchasing an additional 651,121 shares during the period. BNP Paribas Financial Markets increased its stake in shares of WisdomTree by 358.8% in the 4th quarter. BNP Paribas Financial Markets now owns 714,010 shares of the company’s stock valued at $7,497,000 after acquiring an additional 558,392 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of WisdomTree by 157.4% in the 4th quarter. JPMorgan Chase & Co. now owns 880,489 shares of the company’s stock valued at $9,245,000 after acquiring an additional 538,385 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

WisdomTree Stock Performance

WT opened at $12.93 on Monday. The stock has a market cap of $1.90 billion, a PE ratio of 36.94 and a beta of 1.14. 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 has a 50 day moving average of $10.70 and a 200-day moving average of $9.64. WisdomTree, Inc. has a 52 week low of $7.47 and a 52 week high of $13.06.

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

WisdomTree Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.93%. WisdomTree’s dividend payout ratio (DPR) is presently 34.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised WisdomTree from a “sell” rating to a “neutral” rating and increased their target price for the stock from $9.50 to $11.90 in a research note on Friday, June 27th. Morgan Stanley increased their target price on WisdomTree from $9.75 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Finally, Northcoast Research raised WisdomTree from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.99.

WisdomTree 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.