WisdomTree (NYSE:WT) Sets New 12-Month High - Time to Buy?

Key Points

• WisdomTree shares reached a new 52-week high of $23.29, with the stock recently trading around $22.44 and above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the average rating is “Hold” with an average price target of $20.66, below the current share price, although Oppenheimer and Raymond James issued “outperform” ratings.
• Quarterly results exceeded expectations, with EPS of $0.31 versus a $0.26 consensus estimate and revenue up 57.3% year over year; the company also declared a $0.03 quarterly dividend, yielding approximately 0.5%.

Shares of WisdomTree, Inc. (NYSE:WT - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $23.29 and last traded at $22.4360, with a volume of 44220 shares changing hands. The stock had previously closed at $22.73.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James Financial initiated coverage on shares of WisdomTree in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $20.00 price target for the company. Morgan Stanley set a $21.00 price objective on shares of WisdomTree in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of WisdomTree from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Northland Securities set a $22.00 target price on shares of WisdomTree in a research note on Tuesday, June 2nd. Finally, Oppenheimer lifted their target price on shares of WisdomTree from $21.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, WisdomTree currently has an average rating of "Hold" and an average price target of $20.66.

WisdomTree Stock Performance

The stock has a market capitalization of $3.39 billion, a PE ratio of 43.08 and a beta of 1.17. The business has a 50 day moving average price of $19.12 and a 200 day moving average price of $17.58. The company has a debt-to-equity ratio of 2.53, a current ratio of 3.00 and a quick ratio of 2.73.

WisdomTree (NYSE:WT - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $177.16 million during the quarter, compared to analyst estimates of $170.62 million. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%.WisdomTree's quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, equities research analysts expect that WisdomTree, Inc. will post 1.17 earnings per share for the current year.

WisdomTree Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.12 annualized dividend and a yield of 0.5%. WisdomTree's payout ratio is 23.08%.

Insider Transactions at WisdomTree

In other news, COO R Jarrett Lilien sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $18.99, for a total value of $569,700.00. Following the transaction, the chief operating officer owned 1,110,245 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 10.10% of the company's stock.

Institutional Investors Weigh In On WisdomTree

Institutional investors and hedge funds have recently made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in WisdomTree during the 2nd quarter valued at $92,000. Team Financial Group LLC bought a new stake in shares of WisdomTree in the 1st quarter worth $29,000. Quarry LP raised its stake in shares of WisdomTree by 1,679.0% in the third quarter. Quarry LP now owns 2,206 shares of the company's stock worth $31,000 after purchasing an additional 2,082 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of WisdomTree by 163.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,454 shares of the company's stock worth $30,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Quattro Advisors LLC bought a new position in shares of WisdomTree during the fourth quarter valued at $31,000. Institutional investors own 78.64% of the company's stock.

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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