WisdomTree, Inc. $WT Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its WisdomTree stake by 556.4% in the first quarter, purchasing 1.97 million additional shares and ending with a 1.52% ownership position valued at $33.9 million. Institutional investors collectively own 78.64% of the company.
• WisdomTree reported quarterly EPS of $0.31, exceeding estimates of $0.26, while revenue rose 57.3% year over year to $177.16 million. The company also declared a quarterly dividend of $0.03 per share, implying a 0.5% yield.
• Shares opened at $22.83, near their 52-week high of $23.29, while analysts maintain a consensus “Hold” rating and an average price target of $20.66.

Bank of America Corp DE boosted its position in WisdomTree, Inc. (NYSE:WT - Free Report) by 556.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,327,389 shares of the company's stock after buying an additional 1,972,847 shares during the quarter. Bank of America Corp DE owned 1.52% of WisdomTree worth $33,887,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WT. Principal Financial Group Inc. raised its position 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 purchasing an additional 1,013,658 shares in the last quarter. Capital Management Corp VA increased its stake in shares of WisdomTree by 108.1% in the fourth quarter. Capital Management Corp VA now owns 561,886 shares of the company's stock worth $6,849,000 after buying an additional 291,851 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in WisdomTree in the fourth quarter valued at $1,298,000. Hsbc Holdings PLC bought a new position in WisdomTree during the 4th quarter valued at $1,752,000. Finally, UBS Group AG grew its holdings in WisdomTree by 654.6% during the 4th quarter. UBS Group AG now owns 1,133,254 shares of the company's stock worth $13,814,000 after acquiring an additional 983,070 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WisdomTree

In other WisdomTree news, COO R Jarrett Lilien sold 30,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $18.99, for a total transaction of $569,700.00. Following the completion of the sale, the chief operating officer directly owned 1,110,245 shares of the company's stock, valued at approximately $21,083,552.55. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.10% of the company's stock.

WisdomTree Trading Up 0.6%

WisdomTree stock opened at $22.83 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.73 and a current ratio of 3.00. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 43.90 and a beta of 1.17. WisdomTree, Inc. has a 1 year low of $10.69 and a 1 year high of $23.29. The firm's 50 day moving average price is $19.29 and its two-hundred day moving average price is $17.66.

WisdomTree (NYSE:WT - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. The company had revenue of $177.16 million during the quarter, compared to the consensus estimate of $170.62 million. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%.The company's quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, research analysts predict that WisdomTree, Inc. will post 1.17 EPS for the current fiscal year.

WisdomTree Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Northland Securities set a $22.00 target price on shares of WisdomTree in a research note on Tuesday, June 2nd. Zacks Research cut WisdomTree from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Wall Street Zen upgraded WisdomTree from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Oppenheimer upped their price target on WisdomTree from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of WisdomTree in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, WisdomTree has an average rating of "Hold" and a consensus price target of $20.66.

WisdomTree Company 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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