Bank of America Corp DE Purchases Shares of 1,991,898 WisdomTree, Inc. $WT

Key Points

• Bank of America acquired 1,991,898 WisdomTree shares worth approximately $33.7 million, representing about 1.31% of the company. Institutional investors collectively own 78.64% of WisdomTree.
• Analysts maintain a generally positive outlook, with four Buy ratings and three Holds. WisdomTree has a “Moderate Buy” consensus rating and an average price target of $23.66.
• WisdomTree reported quarterly EPS of $0.31, beating estimates of $0.26, while revenue rose 57.3% year over year to $177.16 million. The company also pays a quarterly dividend of $0.03, yielding approximately 0.5% annually.

Bank of America Corp DE purchased a new position in shares of WisdomTree, Inc. (NYSE:WT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,991,898 shares of the company's stock, valued at approximately $33,743,000. Bank of America Corp DE owned approximately 1.31% of WisdomTree as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in WisdomTree in the second quarter worth $326,513,000. Azora Capital LP grew its stake in shares of WisdomTree by 9.3% during the fourth quarter. Azora Capital LP now owns 6,150,111 shares of the company's stock valued at $74,970,000 after buying an additional 521,179 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of WisdomTree by 41.1% in the first 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. Capital World Investors purchased a new position in shares of WisdomTree in the fourth quarter worth about $30,835,000. Finally, Principal Financial Group Inc. lifted its stake in shares of WisdomTree by 101.8% in the 1st quarter. Principal Financial Group Inc. now owns 2,009,556 shares of the company's stock valued at $29,259,000 after acquiring an additional 1,013,658 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Insider Buying and Selling at WisdomTree

In related news, COO R. Jarrett Lilien sold 30,000 shares of WisdomTree stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $24.56, for a total transaction of $736,800.00. Following the sale, the chief operating officer directly owned 1,080,245 shares in the company, valued at $26,530,817.20. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WT. Morgan Stanley set a $21.00 price target on WisdomTree in a research report on Wednesday, July 29th. Raymond James Financial reissued an "outperform" rating and set a $26.00 price objective on shares of WisdomTree in a research note on Thursday, August 27th. The Goldman Sachs Group raised their target price on shares of WisdomTree from $16.40 to $18.30 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Northland Securities lifted their target price on shares of WisdomTree from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of WisdomTree from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, September 16th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.66.

WisdomTree Price Performance

Shares of WT stock opened at $23.73 on Wednesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.73 and a current ratio of 3.00. WisdomTree, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $25.91. The firm has a market cap of $3.60 billion, a P/E ratio of 45.65 and a beta of 1.20. The business's 50 day moving average price is $22.33 and its 200-day moving average price is $19.04.

WisdomTree (NYSE:WT - Get Free Report) last issued its quarterly earnings data 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 net margin of 13.27% and a return on equity of 39.12%. The business had revenue of $177.16 million for the quarter, compared to the consensus estimate of $170.62 million. During the same period in the previous year, the firm earned $0.18 EPS. The company's quarterly revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts anticipate that WisdomTree, Inc. will post 1.19 earnings per share for the current year.

WisdomTree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 12th. WisdomTree's dividend payout ratio (DPR) is presently 23.08%.

About WisdomTree

WisdomTree, Inc is a financial services company that operates as an exchange-traded fund (ETF) and exchange-traded product sponsor and asset manager. The company develops and manages investment strategies designed to provide exposure to equities, fixed income, currencies, commodities, alternatives and other asset classes.

Its product offerings include dividend-focused, growth and value ETFs, actively managed funds, currency and commodity products, and funds focused on environmental, social and governance themes.

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