WisdomTree (NYSE:WT) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• WisdomTree's trading volume increased significantly by 178% to 5,782,437 shares, with the stock currently trading around $13.37.
• Analyst ratings have mostly shifted positively, with several upgrades, including a target price increase from $9.50 to $15.00 by various firms.
• The company announced a quarterly dividend of $0.03 per share, yielding 0.9%, with a payout ratio of 30.77%.

WisdomTree, Inc. (NYSE:WT - Get Free Report) shares saw an uptick in trading volume on Friday . 5,782,437 shares traded hands during trading, an increase of 178% from the previous session's volume of 2,082,651 shares.The stock last traded at $13.37 and had previously closed at $13.55.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of WisdomTree from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $9.50 to $11.90 in a research note on Friday, June 27th. Morgan Stanley upped their price target on shares of WisdomTree from $11.50 to $12.50 and gave the company an "equal weight" rating in a research note on Monday. Oppenheimer raised their price target on shares of WisdomTree from $12.00 to $15.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Craig Hallum reissued a "buy" rating on shares of WisdomTree in a report on Monday, August 4th. Finally, Northcoast Research raised WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.15.

WisdomTree Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.82. The stock's 50 day moving average price is $12.36 and its two-hundred day moving average price is $10.20. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 33.48 and a beta of 1.16.

WisdomTree (NYSE:WT - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $112.60 million during the quarter, compared to the consensus estimate of $110.66 million. WisdomTree had a net margin of 16.25% and a return on equity of 25.17%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Equities research analysts forecast that WisdomTree, Inc. will post 0.72 EPS for the current fiscal year.

WisdomTree Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 13th. WisdomTree's dividend payout ratio (DPR) is 30.77%.

Insiders Place Their Bets

In related news, COO R Jarrett Lilien sold 25,000 shares of WisdomTree stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.33, for a total transaction of $333,250.00. Following the completion of the transaction, the chief operating officer directly owned 1,048,638 shares in the company, valued at approximately $13,978,344.54. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.30% of the company's stock.

Hedge Funds Weigh In On WisdomTree

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP raised its holdings in WisdomTree by 1,778.5% in the 4th 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 increased its position in shares of WisdomTree by 114.0% in the first 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 in the last quarter. Versant Capital Management Inc raised its stake 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 worth $47,000 after buying an additional 3,981 shares during the period. Traub Capital Management LLC acquired a new position in shares of WisdomTree during the 2nd quarter worth approximately $58,000. Finally, Russell Investments Group Ltd. lifted its position in shares of WisdomTree by 758.2% during the 1st quarter. Russell Investments Group Ltd. now owns 6,986 shares of the company's stock valued at $62,000 after buying an additional 6,172 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

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.