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WisdomTree (NYSE:WT) Upgraded by The Goldman Sachs Group to "Neutral" Rating

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WisdomTree (NYSE:WT - Get Free Report) was upgraded by The Goldman Sachs Group from a "sell" rating to a "neutral" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $11.90 target price on the stock, up from their previous target price of $9.50. The Goldman Sachs Group's price target would indicate a potential upside of 3.21% from the stock's previous close.

WisdomTree Trading Up 1.0%

Shares of WT stock traded up $0.11 on Friday, hitting $11.53. 2,750,341 shares of the stock traded hands, compared to its average volume of 1,708,304. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.79 and a current ratio of 3.83. WisdomTree has a twelve month low of $7.47 and a twelve month high of $12.45. The firm's 50-day moving average price is $9.62 and its two-hundred day moving average price is $9.45. The stock has a market capitalization of $1.70 billion, a PE ratio of 32.94 and a beta of 1.11.

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

Hedge Funds Weigh In On WisdomTree

Several institutional investors have recently bought and sold shares of the company. Quarry LP boosted its stake in shares of WisdomTree by 1,778.5% in the fourth quarter. Quarry LP now owns 2,799 shares of the company's stock valued at $29,000 after purchasing an additional 2,650 shares during the period. Byrne Asset Management LLC boosted its position in WisdomTree by 114.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,852 shares of the company's stock valued at $34,000 after buying an additional 2,052 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of WisdomTree by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,793 shares of the company's stock worth $39,000 after acquiring an additional 2,405 shares in the last quarter. Versant Capital Management Inc increased 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 acquiring an additional 3,981 shares during the period. Finally, Federated Hermes Inc. increased 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 acquiring an additional 1,777 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

WisdomTree Company Profile

(Get Free Report)

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.

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