Chase Investment Counsel Corp Buys New Shares in WisdomTree, Inc. $WT

Key Points

• Chase Investment Counsel Corp acquired 192,923 WisdomTree shares worth approximately $3.27 million, while institutional investors collectively owned 78.64% of the company.
• WisdomTree reported quarterly EPS of $0.31, exceeding estimates by $0.05, with revenue rising 57.3% year over year to $177.16 million.
• Shares opened at $22.83, near the 12-month high, while analysts maintained an overall “Hold” rating with an average price target of $20.66; the company also declared a quarterly dividend of $0.03 per share.

Chase Investment Counsel Corp acquired a new stake in shares of WisdomTree, Inc. (NYSE:WT - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 192,923 shares of the company's stock, valued at approximately $3,268,000. Chase Investment Counsel Corp owned about 0.13% of WisdomTree at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of WisdomTree during the 2nd quarter valued at $17,723,000. State of Wyoming bought a new stake in WisdomTree in the second quarter worth $521,000. GSA Capital Partners LLP bought a new stake in WisdomTree in the second quarter worth $620,000. Clearstead Trust LLC purchased a new stake in WisdomTree during the second quarter valued at about $92,000. Finally, Bank of America Corp DE boosted its position in WisdomTree by 556.4% during the first quarter. Bank of America Corp DE now owns 2,327,389 shares of the company's stock valued at $33,887,000 after buying an additional 1,972,847 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

WisdomTree Stock Up 0.1%

Shares of WisdomTree stock opened at $22.83 on Monday. The company has a current ratio of 3.00, a quick ratio of 2.73 and a debt-to-equity ratio of 2.53. WisdomTree, Inc. has a 12-month low of $10.69 and a 12-month high of $23.29. The company has a market cap of $3.46 billion, a P/E ratio of 43.90 and a beta of 1.17. The company's fifty day simple moving average is $19.29 and its two-hundred day simple moving average is $17.67.

WisdomTree (NYSE:WT - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The firm had revenue of $177.16 million during the quarter, compared to analysts' expectations of $170.62 million. During the same period last year, the company posted $0.18 EPS. The company's quarterly revenue was up 57.3% compared to the same quarter last year. Research analysts anticipate that WisdomTree, Inc. will post 1.17 EPS for the current year.

WisdomTree Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 12th. WisdomTree's payout ratio is presently 23.08%.

Insider Buying and Selling at WisdomTree

In other WisdomTree news, COO R Jarrett Lilien sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $18.99, for a total transaction of $569,700.00. Following the transaction, the chief operating officer owned 1,110,245 shares in the company, valued at approximately $21,083,552.55. This represents a 2.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WT. The Goldman Sachs Group raised their price target on WisdomTree from $16.40 to $18.30 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Raymond James Financial began coverage on WisdomTree in a research report on Tuesday, April 21st. They issued an "outperform" rating and a $20.00 price objective for the company. Oppenheimer increased their price objective on WisdomTree from $21.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of WisdomTree in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of WisdomTree from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, WisdomTree presently has an average rating of "Hold" and an average price target of $20.66.

WisdomTree Profile

WisdomTree Investments, Inc NYSE: WT is a U.S.-based asset management firm specializing in exchange-traded funds (ETFs) and exchange-traded products (ETPs). Founded in 2006 by Jonathan Steinberg and headquartered in New York City, WisdomTree has developed a reputation for pioneering smart-beta and fundamentally weighted indexing approaches. The company designs strategies that seek to enhance returns and reduce volatility by weighting constituents based on dividends, earnings or other financial metrics rather than relying solely on market capitalization.

WisdomTree offers a broad suite of investment products covering equities, fixed income, currencies, commodities and digital assets.

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