WisdomTree (NYSE:WT) Hits New 1-Year High - Here's What Happened

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

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

WisdomTree Price Performance

The firm has a market capitalization of $1.87 billion, a P/E ratio of 36.29 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. The company has a fifty day moving average of $10.28 and a 200 day moving average of $9.56.

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

WisdomTree Announces Dividend

The business 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. This represents a $0.12 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, May 14th. WisdomTree's dividend payout ratio (DPR) is 34.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WT. Simcoe Capital Management LLC bought a new stake in WisdomTree during the 1st quarter valued at $35,582,000. Millennium Management LLC grew its holdings in shares of WisdomTree by 110.0% during the first quarter. Millennium Management LLC now owns 4,266,947 shares of the company's stock valued at $38,061,000 after buying an additional 2,235,413 shares during the last quarter. Nuveen LLC bought a new stake in shares of WisdomTree during the first quarter worth about $17,003,000. Nuveen Asset Management LLC raised its holdings in shares of WisdomTree by 139.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,270,963 shares of the company's stock worth $13,345,000 after acquiring an additional 741,134 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in WisdomTree by 379.3% in the 1st quarter. Jane Street Group LLC now owns 880,977 shares of the company's stock valued at $7,858,000 after acquiring an additional 697,156 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

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.