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

Bank of New York Mellon Corp decreased its stake in shares of WisdomTree, Inc. (NYSE:WT - Free Report) by 37.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,318,746 shares of the company's stock after selling 790,022 shares during the period. Bank of New York Mellon Corp owned 0.90% of WisdomTree worth $11,763,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quarry LP boosted its position in shares of WisdomTree by 1,778.5% in the fourth quarter. Quarry LP now owns 2,799 shares of the company's stock valued at $29,000 after acquiring an additional 2,650 shares during the period. Byrne Asset Management LLC boosted its position in shares of WisdomTree by 114.0% in the first quarter. Byrne Asset Management LLC now owns 3,852 shares of the company's stock valued at $34,000 after acquiring an additional 2,052 shares during the period. Federated Hermes Inc. lifted its position in shares of 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 period. Versant Capital Management Inc lifted its position in shares of WisdomTree by 310.5% in the 1st quarter. Versant Capital Management Inc now owns 5,263 shares of the company's stock worth $47,000 after acquiring an additional 3,981 shares during the period. Finally, Xponance Inc. bought a new stake in shares of WisdomTree in the 4th quarter worth approximately $105,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analyst Weigh In

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

WisdomTree Stock Up 0.8%

Shares of WisdomTree stock traded up $0.11 during trading on Thursday, reaching $13.70. The stock had a trading volume of 2,209,818 shares, compared to its average volume of 3,030,316. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 39.13 and a beta of 1.14. The stock has a fifty day moving average price of $11.01 and a two-hundred day moving average price of $9.73. WisdomTree, Inc. has a 52 week low of $7.47 and a 52 week high of $13.73. The company has a current ratio of 3.83, a quick ratio of 2.79 and a debt-to-equity ratio of 1.23.

WisdomTree (NYSE:WT - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. The company had revenue of $108.08 million for the quarter, compared to analyst estimates of $108.47 million. WisdomTree had a return on equity of 25.46% and a net margin of 15.77%. The company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. Sell-side analysts predict that WisdomTree, Inc. will post 0.72 EPS for the current fiscal year.

WisdomTree Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 0.88%. WisdomTree's payout ratio is presently 34.29%.

About WisdomTree

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.