WisdomTree (NYSE:WT) Reaches New 12-Month High After Analyst Upgrade

Shares of WisdomTree, Inc. (NYSE:WT - Get Free Report) reached a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $12.00 to $15.00. Oppenheimer currently has an outperform rating on the stock. WisdomTree traded as high as $13.44 and last traded at $13.34, with a volume of 4076590 shares changing hands. The stock had previously closed at $12.93.

Several other brokerages have also issued reports on WT. The Goldman Sachs Group raised WisdomTree from a "sell" rating to a "neutral" rating and increased their target price for the stock from $9.50 to $11.90 in a research report on Friday, June 27th. Northcoast Research upgraded WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 price objective for the company in a report on Wednesday, July 2nd. Finally, Morgan Stanley boosted their target price on shares of WisdomTree from $9.75 to $11.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its stake in WisdomTree by 39.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 808,352 shares of the company's stock worth $7,210,000 after acquiring an additional 227,626 shares during the last quarter. Gabelli Funds LLC raised its stake in WisdomTree by 448.6% during the fourth quarter. Gabelli Funds LLC now owns 109,717 shares of the company's stock valued at $1,152,000 after purchasing an additional 89,717 shares in the last quarter. Bank of America Corp DE lifted its position in WisdomTree by 93.8% during the fourth quarter. Bank of America Corp DE now owns 313,859 shares of the company's stock valued at $3,296,000 after purchasing an additional 151,926 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of WisdomTree by 10.9% in the 4th quarter. Ameriprise Financial Inc. now owns 353,250 shares of the company's stock worth $3,709,000 after buying an additional 34,670 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of WisdomTree by 5.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 70,050 shares of the company's stock valued at $625,000 after buying an additional 3,359 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

WisdomTree Trading Down 0.2%

The stock's fifty day moving average is $11.09 and its 200 day moving average is $9.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.79 and a current ratio of 3.83. The stock has a market cap of $2.01 billion, a P/E ratio of 39.10 and a beta of 1.14.

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

WisdomTree Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, May 14th. WisdomTree's dividend payout ratio (DPR) is presently 34.29%.

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.