Envestnet Asset Management Inc. Buys 227,626 Shares of WisdomTree, Inc. (NYSE:WT)

Envestnet Asset Management Inc. raised its stake in shares of WisdomTree, Inc. (NYSE:WT) by 39.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 808,352 shares of the company’s stock after acquiring an additional 227,626 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.55% of WisdomTree worth $7,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Federated Hermes Inc. raised its stake in WisdomTree by 60.7% in the 4th quarter. Federated Hermes Inc. now owns 4,705 shares of the company’s stock worth $49,000 after acquiring an additional 1,777 shares during the last quarter. EntryPoint Capital LLC raised its stake in WisdomTree by 6.7% in the 4th quarter. EntryPoint Capital LLC now owns 29,622 shares of the company’s stock worth $311,000 after acquiring an additional 1,870 shares during the last quarter. Bank of Montreal Can raised its stake in WisdomTree by 11.6% in the 4th quarter. Bank of Montreal Can now owns 18,702 shares of the company’s stock worth $196,000 after acquiring an additional 1,951 shares during the last quarter. Byrne Asset Management LLC raised its stake in WisdomTree by 114.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,852 shares of the company’s stock worth $34,000 after acquiring an additional 2,052 shares during the last quarter. Finally, AXQ Capital LP raised its stake in WisdomTree by 22.8% in the 4th quarter. AXQ Capital LP now owns 13,271 shares of the company’s stock worth $139,000 after acquiring an additional 2,465 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Northcoast Research upgraded WisdomTree from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, July 2nd. The Goldman Sachs Group upgraded WisdomTree from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $9.50 to $11.90 in a report on Friday, June 27th. Oppenheimer lifted their price objective on WisdomTree from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on WisdomTree from $9.75 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.24.

WisdomTree Stock Performance

Shares of WisdomTree stock opened at $13.34 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.79 and a current ratio of 3.83. The business has a 50-day simple moving average of $10.70 and a 200-day simple moving average of $9.64. The company has a market cap of $1.96 billion, a PE ratio of 38.10 and a beta of 1.14. WisdomTree, Inc. has a one year low of $7.47 and a one year high of $13.44.

WisdomTree (NYSE:WT) last issued its earnings results on Friday, May 2nd. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $108.08 million during the quarter, compared to the consensus estimate of $108.47 million. WisdomTree had a net margin of 15.77% and a return on equity of 25.46%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts forecast that WisdomTree, Inc. will post 0.72 EPS 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 paid a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 0.90%. WisdomTree’s dividend payout ratio is presently 34.29%.

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.