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

Key Points

• WisdomTree (NYSE: WT) hit a new 52-week high of $17.87 during mid-day trading and last traded at $17.645 with about 1.41 million shares changing hands, up from a prior close of $16.38.
• The company beat estimates for the quarter with EPS of $0.29 versus $0.23 expected and revenue of $147.43M (up 33.2% year-over-year), backed by a 22.1% net margin and 30.24% ROE.
• Analyst views are mixed but the consensus is an average rating of Moderate Buy with an average target price of $17.40 following several recent upgrades and downgrades.

WisdomTree, Inc. (NYSE:WT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.87 and last traded at $17.6450, with a volume of 1412115 shares trading hands. The stock had previously closed at $16.38.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WT. Wall Street Zen raised shares of WisdomTree from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Zacks Research downgraded shares of WisdomTree from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. The Goldman Sachs Group raised their price objective on shares of WisdomTree from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Monday, February 2nd. Oppenheimer dropped their price objective on shares of WisdomTree from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, March 26th. Finally, Morgan Stanley dropped their price objective on shares of WisdomTree from $16.75 to $16.50 and set an "equal weight" rating on the stock in a report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $17.40.

WisdomTree Stock Performance

The company has a market cap of $2.50 billion, a P/E ratio of 23.57 and a beta of 1.11. The business's 50 day simple moving average is $15.71 and its 200 day simple moving average is $13.82. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 1.94.

WisdomTree (NYSE:WT - Get Free Report) last released its earnings results on Friday, January 30th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. WisdomTree had a net margin of 22.10% and a return on equity of 30.24%. The company had revenue of $147.43 million for the quarter, compared to analysts' expectations of $142.78 million. During the same quarter last year, the business earned $0.17 EPS. The firm's revenue was up 33.2% compared to the same quarter last year. Sell-side analysts predict that WisdomTree, Inc. will post 0.72 earnings per share for the current fiscal year.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. WisdomTree's dividend payout ratio (DPR) is presently 16.00%.

Insider Buying and Selling

In other WisdomTree news, COO R Jarrett Lilien sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $16.84, for a total transaction of $505,200.00. Following the sale, the chief operating officer owned 1,140,245 shares in the company, valued at approximately $19,201,725.80. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.30% of the company's stock.

Institutional Investors Weigh In On WisdomTree

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of WisdomTree by 2.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 456,990 shares of the company's stock valued at $4,076,000 after buying an additional 12,402 shares during the last quarter. Jane Street Group LLC raised its position in shares of WisdomTree by 379.3% during the first quarter. Jane Street Group LLC now owns 880,977 shares of the company's stock valued at $7,858,000 after buying an additional 697,156 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of WisdomTree by 35.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 301,138 shares of the company's stock valued at $3,466,000 after buying an additional 78,837 shares during the last quarter. Sei Investments Co. raised its position in shares of WisdomTree by 722.3% during the second quarter. Sei Investments Co. now owns 93,039 shares of the company's stock valued at $1,071,000 after buying an additional 81,725 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of WisdomTree by 20.0% during the second quarter. AQR Capital Management LLC now owns 482,313 shares of the company's stock valued at $5,551,000 after buying an additional 80,361 shares during the last quarter. Institutional investors own 78.64% of the company's stock.

About WisdomTree

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.