WisdomTree (NYSE:WT) Sets New 1-Year High - Still a Buy?

Key Points

• WisdomTree shares hit a new 52-week high, trading as high as $21.23 and ending up about 2.1% on the day. The move came as the stock continued to outperform its recent moving averages.
• Analyst sentiment is mixed but generally constructive: the current consensus is a “Moderate Buy” with a $20.06 target price. Recent moves included upgrades to hold from some firms, while Oppenheimer raised its target to $21 and kept an outperform rating.
• The company’s latest quarter showed better-than-expected earnings and revenue growth, with EPS of $0.27 versus $0.25 expected and revenue up 47.5% year over year. WisdomTree also paid a quarterly dividend of $0.03 per share, reflecting a 0.6% annualized yield.

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $21.23 and last traded at $20.6650, with a volume of 2808803 shares traded. The stock had previously closed at $20.24.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen cut shares of WisdomTree from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Morgan Stanley boosted their price objective on shares of WisdomTree from $18.00 to $20.50 and gave the stock an "equal weight" rating in a report on Friday, June 26th. Weiss Ratings cut shares of WisdomTree from a "buy (b)" rating to a "hold (c)" rating in a research note on Friday, May 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $16.80 target price on shares of WisdomTree in a report on Tuesday, May 5th. Finally, Oppenheimer lifted their target price on shares of WisdomTree from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.06.

WisdomTree Stock Up 2.1%

The company has a current ratio of 4.57, a quick ratio of 4.18 and a debt-to-equity ratio of 2.37. The stock has a 50 day simple moving average of $18.65 and a 200 day simple moving average of $16.84. The firm has a market capitalization of $3.16 billion, a PE ratio of 50.40 and a beta of 1.18.

WisdomTree (NYSE:WT - Get Free Report) last released 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. WisdomTree had a return on equity of 33.31% and a net margin of 11.26%.The firm had revenue of $159.50 million during the quarter, compared to analyst estimates of $156.96 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business's quarterly revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts forecast that WisdomTree, Inc. will post 1.14 earnings per share for the current year.

WisdomTree Dividend Announcement

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

Insider Transactions at WisdomTree

In other news, COO R Jarrett Lilien sold 30,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $18.99, for a total transaction of $569,700.00. Following the completion of the transaction, the chief operating officer directly owned 1,110,245 shares of the company's stock, valued at approximately $21,083,552.55. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David M. Yates sold 15,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total transaction of $270,900.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WisdomTree

A number of large investors have recently made changes to their positions in the business. Sowell Financial Services LLC increased its stake in shares of WisdomTree by 6.3% during the fourth quarter. Sowell Financial Services LLC now owns 11,518 shares of the company's stock valued at $140,000 after purchasing an additional 680 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of WisdomTree by 3.9% during the fourth quarter. Russell Investments Group Ltd. now owns 20,605 shares of the company's stock valued at $251,000 after purchasing an additional 778 shares during the last quarter. Cooper Financial Group boosted its position in shares of WisdomTree by 6.6% in the 4th quarter. Cooper Financial Group now owns 12,849 shares of the company's stock worth $157,000 after purchasing an additional 799 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of WisdomTree by 5.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 21,947 shares of the company's stock worth $320,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of WisdomTree by 1.5% in the 2nd quarter. Osaic Holdings Inc. now owns 87,126 shares of the company's stock worth $1,003,000 after buying an additional 1,266 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.

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