WisdomTree (NYSE:WT) Sets New 1-Year High - Should You Buy?

Key Points

• WisdomTree, Inc. (NYSE:WT) reached a new 52-week high of $13.78, closing at $13.51 with a significant trading volume of over 8 million shares.
• Analysts have increased their price targets for WisdomTree, with the consensus currently at $12.90, following upgrades from multiple firms, including Oppenheimer and Goldman Sachs.
• The company recently declared a quarterly dividend of $0.03 per share, representing an annualized yield of 0.9% and a dividend payout ratio of 30.77%.

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.78 and last traded at $13.51, with a volume of 8106739 shares. The stock had previously closed at $13.21.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WT. Morgan Stanley raised their price target on shares of WisdomTree from $9.75 to $11.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Oppenheimer increased their price objective 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 reaffirmed a "buy" rating on shares of WisdomTree in a report on Monday, August 4th. The Goldman Sachs Group raised shares of WisdomTree from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $9.50 to $11.90 in a report on Friday, June 27th. Finally, Northcoast Research raised shares of WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.90.

WisdomTree Stock Performance

The firm's 50-day moving average price is $12.17 and its two-hundred day moving average price is $10.13. The firm has a market capitalization of $1.97 billion, a PE ratio of 34.28 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.82.

WisdomTree (NYSE:WT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $112.60 million for 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% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. As a group, research analysts predict that WisdomTree, Inc. will post 0.72 earnings per share for the current fiscal year.

WisdomTree Dividend Announcement

The business also recently declared 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 dividend yield of 0.9%. The ex-dividend date is Wednesday, August 13th. WisdomTree's dividend payout ratio (DPR) is currently 30.77%.

Insider Activity at WisdomTree

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

Institutional Trading of WisdomTree

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in WisdomTree by 1,778.5% in the fourth quarter. Quarry LP now owns 2,799 shares of the company's stock valued at $29,000 after acquiring an additional 2,650 shares during the last quarter. Byrne Asset Management LLC raised 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 purchasing an additional 2,052 shares during the period. Versant Capital Management Inc raised its position in shares of WisdomTree by 310.5% in the first quarter. Versant Capital Management Inc now owns 5,263 shares of the company's stock valued at $47,000 after purchasing an additional 3,981 shares during the period. Federated Hermes Inc. raised its position in shares of WisdomTree by 60.7% in the fourth quarter. Federated Hermes Inc. now owns 4,705 shares of the company's stock valued at $49,000 after purchasing an additional 1,777 shares during the period. Finally, Traub Capital Management LLC bought a new position in shares of WisdomTree in the second quarter valued at approximately $58,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About WisdomTree

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.