New York State Common Retirement Fund Decreases Stock Position in WisdomTree, Inc. (NYSE:WT)

Key Points

• The New York State Common Retirement Fund significantly reduced its holdings in WisdomTree, Inc. by 76.1%, now owning 38,564 shares worth approximately $344,000.
• WisdomTree reported $0.16 earnings per share (EPS) for the recent quarter, meeting analyst expectations while showing an 11.7% revenue increase year-over-year.
• The company initiated a quarterly dividend of $0.03 per share, with a current annualized yield of 0.88% and a payout ratio of 34.29%.

New York State Common Retirement Fund cut its holdings in shares of WisdomTree, Inc. (NYSE:WT - Free Report) by 76.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,564 shares of the company's stock after selling 122,629 shares during the period. New York State Common Retirement Fund's holdings in WisdomTree were worth $344,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in shares of WisdomTree by 60.7% in the 4th quarter. Federated Hermes Inc. now owns 4,705 shares of the company's stock valued at $49,000 after buying an additional 1,777 shares during the period. Bank of Montreal Can boosted its holdings in WisdomTree by 11.6% in the fourth 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 in the last quarter. Byrne Asset Management LLC grew its stake in 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. Quarry LP grew its stake in 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of WisdomTree by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,343 shares of the company's stock valued at $833,000 after acquiring an additional 2,709 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on WT shares. Oppenheimer increased their target price on shares of WisdomTree from $12.00 to $15.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group upgraded shares of WisdomTree from a "sell" rating to a "neutral" rating and increased their price objective for the company from $9.50 to $11.90 in a research note on Friday, June 27th. Morgan Stanley boosted 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 report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, WisdomTree currently has an average rating of "Moderate Buy" and a consensus target price of $12.90.

WisdomTree Price Performance

WT stock traded down $0.04 during mid-day trading on Wednesday, reaching $13.34. 2,047,065 shares of the company traded hands, compared to its average volume of 2,726,388. The company has a fifty day moving average price of $11.32 and a 200-day moving average price of $9.84. WisdomTree, Inc. has a 52-week low of $7.47 and a 52-week high of $13.76. The company has a market capitalization of $1.96 billion, a P/E ratio of 38.11 and a beta of 1.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.83 and a quick ratio of 2.79.

WisdomTree (NYSE:WT - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. WisdomTree had a net margin of 15.77% and a return on equity of 25.46%. The company 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 company earned $0.12 earnings per share. WisdomTree's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts anticipate that WisdomTree, Inc. will post 0.72 earnings per share for the current year.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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 dividend on an annualized basis and a yield of 0.90%. WisdomTree's dividend 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.