WisdomTree (NYSE:WT) Reaches New 1-Year High on Analyst Upgrade

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s share price hit 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. The stock had previously closed at $12.93.

A number of other research firms have also weighed in on WT. Northcoast Research raised shares of WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Wednesday, July 2nd. The Goldman Sachs Group raised shares of WisdomTree from a "sell" rating to a "neutral" rating and raised their price target for the company from $9.50 to $11.90 in a research report on Friday, June 27th. Finally, Morgan Stanley raised their price objective 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 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.24.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP boosted its holdings in shares of 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 during the period. Byrne Asset Management LLC raised its stake in WisdomTree by 114.0% during the 1st quarter. Byrne Asset Management LLC now owns 3,852 shares of the company's stock valued at $34,000 after purchasing an additional 2,052 shares during the last quarter. Federated Hermes Inc. increased its holdings 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 buying an additional 1,777 shares during the period. Versant Capital Management Inc grew its holdings in shares of WisdomTree by 310.5% in the 1st quarter. Versant Capital Management Inc now owns 5,263 shares of the company's stock worth $47,000 after purchasing an additional 3,981 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in WisdomTree by 758.2% during the 1st quarter. Russell Investments Group Ltd. now owns 6,986 shares of the company's stock worth $62,000 after buying an additional 6,172 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

WisdomTree Trading Up 3.1%

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 firm has a market cap of $1.96 billion, a price-to-earnings ratio of 38.10 and a beta of 1.14. The company's 50-day moving average is $10.70 and its 200-day moving average is $9.64.

WisdomTree (NYSE:WT - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $108.47 million. During the same period last year, the company posted $0.12 EPS. WisdomTree's revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts predict that WisdomTree, Inc. will post 0.72 earnings per share for the current year.

WisdomTree Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders 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 dividend yield of 0.90%. WisdomTree's dividend payout ratio is currently 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.

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