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

Key Points

• WisdomTree shares hit a new 52-week high, trading as high as $19.03 (last $19.04) on volume of about 626,379 shares.
• The company beat quarterly expectations with EPS of $0.27 vs. $0.25 est. and revenue of $159.5M (up 47.5% year-over-year), reporting a 33.31% ROE and 11.26% net margin.
• Analysts' consensus is a Moderate Buy with an average price target of $18.47, and institutional ownership is high (78.64%) as several large funds materially increased positions.

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $19.03 and last traded at $19.04, with a volume of 626379 shares changing hands. The stock had previously closed at $18.24.

Analysts Set New Price Targets

WT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WisdomTree in a research report on Wednesday, January 21st. Wall Street Zen raised WisdomTree from a "hold" rating to a "buy" rating in a report on Sunday. Morgan Stanley set a $18.00 price target on WisdomTree in a research note on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $16.80 price objective on shares of WisdomTree in a report on Tuesday. Finally, Zacks Research cut WisdomTree from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.47.

WisdomTree Stock Performance

The business has a 50-day simple moving average of $15.94 and a 200 day simple moving average of $14.17. The company has a debt-to-equity ratio of 2.37, a current ratio of 4.57 and a quick ratio of 4.18. The firm has a market cap of $2.90 billion, a PE ratio of 46.43 and a beta of 1.13.

WisdomTree (NYSE:WT - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. The firm had revenue of $159.50 million for the quarter, compared to analysts' expectations of $156.96 million. WisdomTree had a return on equity of 33.31% and a net margin of 11.26%.The business's quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. Equities research analysts forecast that WisdomTree, Inc. will post 1.08 EPS for the current year.

WisdomTree Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.12 annualized dividend and a yield of 0.6%. WisdomTree's payout ratio is currently 29.27%.

Insider Buying and Selling

In related news, insider David M. Yates sold 15,000 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $18.06, for a total value of $270,900.00. Following the completion of the transaction, the insider owned 157,499 shares of the company's stock, valued at approximately $2,844,431.94. This represents a 8.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO R Jarrett Lilien sold 30,000 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $16.84, for a total value of $505,200.00. Following the completion of the sale, the chief operating officer owned 1,140,245 shares of the company's stock, valued at $19,201,725.80. The trade was a 2.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.30% of the company's stock.

Hedge Funds Weigh In On WisdomTree

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of WisdomTree by 236.5% during the third quarter. Wellington Management Group LLP now owns 9,674,630 shares of the company's stock worth $134,477,000 after purchasing an additional 6,799,654 shares in the last quarter. Capital World Investors purchased a new position in WisdomTree in the 4th quarter worth approximately $30,835,000. Goldman Sachs Group Inc. boosted its stake in WisdomTree by 116.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,389,653 shares of the company's stock worth $41,320,000 after purchasing an additional 1,823,777 shares during the period. Capitolis Liquid Global Markets LLC bought a new position in WisdomTree in the 3rd quarter worth approximately $24,125,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in WisdomTree by 463.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,697,707 shares of the company's stock valued at $23,598,000 after buying an additional 1,396,569 shares in the last quarter. Institutional investors own 78.64% of the company's stock.

WisdomTree Company Profile

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.

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