WisdomTree (NYSE:WT) Sets New 52-Week High - Here's What Happened

Key Points

• WisdomTree shares reached a new 52-week high of $25.89, while the stock’s average analyst rating remained “Moderate Buy” with a consensus price target of $23.66. Northland Securities and Raymond James set higher $26 targets and rated the stock “outperform.”
• The company exceeded quarterly expectations, reporting $0.31 EPS versus the $0.26 consensus and revenue of $177.16 million, up 57.3% year over year.
• WisdomTree paid a quarterly dividend of $0.03 per share, equivalent to a 0.5% annual yield, while institutional investors owned 78.64% of the company’s stock.

Shares of WisdomTree, Inc. (NYSE:WT - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $25.89 and last traded at $24.2280, with a volume of 2625 shares changing hands. The stock had previously closed at $24.43.

Analysts Set New Price Targets

Several analysts have issued reports on WT shares. Morgan Stanley set a $21.00 price target on shares of WisdomTree in a research report on Wednesday, July 29th. The Goldman Sachs Group lifted their price objective on WisdomTree from $16.40 to $18.30 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Northland Securities boosted their target price on WisdomTree from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Raymond James Financial restated an "outperform" rating and set a $26.00 target price on shares of WisdomTree in a report on Thursday. Finally, Zacks Research lowered WisdomTree from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.66.

WisdomTree Stock Down 0.4%

The company has a market capitalization of $3.69 billion, a P/E ratio of 46.72 and a beta of 1.17. The company has a current ratio of 3.00, a quick ratio of 2.73 and a debt-to-equity ratio of 2.53. The stock's fifty day moving average is $20.47 and its 200 day moving average is $18.20.

WisdomTree (NYSE:WT - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $170.62 million. During the same quarter last year, the firm earned $0.18 EPS. The company's revenue was up 57.3% on a year-over-year basis. Research analysts predict that WisdomTree, Inc. will post 1.19 EPS for the current fiscal year.

WisdomTree Dividend Announcement

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

Institutional Investors Weigh In On WisdomTree

Several institutional investors and hedge funds have recently bought and sold shares of WT. BlackRock Inc. purchased a new position in shares of WisdomTree during the second quarter valued at approximately $326,513,000. Principal Financial Group Inc. grew 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 worth $29,259,000 after buying an additional 1,013,658 shares during the last quarter. Bank of America Corp DE grew its stake in shares of WisdomTree by 556.4% in the 1st quarter. Bank of America Corp DE now owns 2,327,389 shares of the company's stock worth $33,887,000 after buying an additional 1,972,847 shares during the last quarter. Chase Investment Counsel Corp bought a new position in WisdomTree during the 2nd quarter valued at approximately $3,268,000. Finally, Capital Management Corp VA increased its position in WisdomTree by 108.1% during the 4th quarter. Capital Management Corp VA now owns 561,886 shares of the company's stock valued at $6,849,000 after buying an additional 291,851 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

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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