WisdomTree (NYSE:WT) Sets New 12-Month High - What's Next?

WisdomTree, Inc. (NYSE:WT - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $12.57 and last traded at $12.52, with a volume of 2189571 shares. The stock had previously closed at $12.24.

Analysts Set New Price Targets

Several research firms have commented on WT. The Goldman Sachs Group raised WisdomTree from a "sell" rating to a "neutral" rating and raised their price objective for the company from $9.50 to $11.90 in a research report on Friday, June 27th. Northcoast Research raised WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Wednesday, July 2nd. Finally, Morgan Stanley lifted their price target on WisdomTree from $9.75 to $11.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.99.

WisdomTree Stock Performance

The company has a quick ratio of 2.79, a current ratio of 3.83 and a debt-to-equity ratio of 1.23. The stock has a 50 day simple moving average of $10.35 and a 200 day simple moving average of $9.56. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 36.29 and a beta of 1.14.

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

WisdomTree Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.94%. WisdomTree's dividend payout ratio is presently 34.29%.

Hedge Funds Weigh In On WisdomTree

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP boosted its position in shares of WisdomTree by 1,778.5% during the fourth quarter. Quarry LP now owns 2,799 shares of the company's stock worth $29,000 after buying an additional 2,650 shares during the period. Byrne Asset Management LLC boosted its position in shares of WisdomTree by 114.0% during the first quarter. Byrne Asset Management LLC now owns 3,852 shares of the company's stock worth $34,000 after buying an additional 2,052 shares during the period. Versant Capital Management Inc boosted its position in shares of WisdomTree by 310.5% during the first quarter. Versant Capital Management Inc now owns 5,263 shares of the company's stock worth $47,000 after buying an additional 3,981 shares during the period. Federated Hermes Inc. boosted its position in shares of WisdomTree by 60.7% during the fourth quarter. Federated Hermes Inc. now owns 4,705 shares of the company's stock worth $49,000 after buying an additional 1,777 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in WisdomTree by 758.2% during the first quarter. Russell Investments Group Ltd. now owns 6,986 shares of the company's stock worth $62,000 after purchasing an additional 6,172 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

WisdomTree Company Profile

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.