WisdomTree (NYSE:WT) Sets New 52-Week High Following Analyst Upgrade

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s share price reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $9.75 to $11.00. Morgan Stanley currently has an equal weight rating on the stock. WisdomTree traded as high as $12.54 and last traded at $12.47, with a volume of 3064570 shares trading hands. The stock had previously closed at $12.25.

WT has been the topic of several other reports. Northcoast Research raised WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Wednesday. The Goldman Sachs Group raised WisdomTree from a "sell" rating to a "neutral" rating and raised their target price for the stock from $9.50 to $11.90 in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.99.

Hedge Funds Weigh In On WisdomTree

Several institutional investors and hedge funds have recently modified their holdings of WT. Quarry LP boosted its position in 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 purchasing an additional 2,650 shares in the last quarter. Byrne Asset Management LLC raised its stake in shares of WisdomTree by 114.0% during the 1st 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. Smartleaf Asset Management LLC lifted its position in shares of WisdomTree by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,793 shares of the company's stock valued at $39,000 after buying an additional 2,405 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of WisdomTree by 310.5% during the 1st quarter. Versant Capital Management Inc now owns 5,263 shares of the company's stock valued at $47,000 after buying an additional 3,981 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in 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 acquiring an additional 1,777 shares during the period. Hedge funds and other institutional investors own 78.64% of the company's stock.

WisdomTree Stock Performance

The company has a current ratio of 3.83, a quick ratio of 2.79 and a debt-to-equity ratio of 1.23. The firm's fifty day moving average is $9.91 and its 200 day moving average is $9.49. The company has a market cap of $1.87 billion, a PE ratio of 36.34 and a beta of 1.14.

WisdomTree (NYSE:WT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.16 earnings per share (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 business had revenue of $108.08 million for the quarter, compared to analyst estimates of $108.47 million. During the same quarter last year, the business earned $0.12 earnings per share. The company's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts predict that WisdomTree, Inc. will post 0.72 EPS for the current fiscal year.

WisdomTree Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 0.94%. WisdomTree's dividend payout ratio (DPR) is currently 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.