WisdomTree (NYSE:WT) Reaches New 52-Week High at $9.20

WisdomTree, Inc. (NYSE:WT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.20 and last traded at $9.19, with a volume of 351089 shares. The stock had previously closed at $8.93.

Wall Street Analyst Weigh In

Several analysts recently commented on WT shares. Northcoast Research raised WisdomTree from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Thursday, December 28th. Craig Hallum initiated coverage on WisdomTree in a research note on Wednesday, March 6th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Oppenheimer lifted their price objective on WisdomTree from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.85.

WisdomTree Trading Up 2.9 %

The firm has a market capitalization of $1.40 billion, a PE ratio of 13.74 and a beta of 1.47. The company has a current ratio of 2.23, a quick ratio of 1.66 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average price of $7.78 and a 200-day moving average price of $7.11.

WisdomTree (NYSE:WT) last announced its earnings results on Friday, February 2nd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. WisdomTree had a return on equity of 15.15% and a net margin of 29.38%. The firm had revenue of $90.84 million for the quarter, compared to analysts’ expectations of $90.32 million. During the same quarter in the prior year, the firm earned $0.04 EPS. WisdomTree’s quarterly revenue was up 23.9% on a year-over-year basis. Analysts expect that WisdomTree, Inc. will post 0.5 earnings per share for the current year.

WisdomTree Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, February 13th. WisdomTree’s dividend payout ratio is presently 18.46%.

Insider Activity at WisdomTree

In other news, CEO Jonathan L. Steinberg bought 303,781 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $7.20 per share, for a total transaction of $2,187,223.20. Following the completion of the transaction, the chief executive officer now directly owns 9,172,838 shares of the company’s stock, valued at approximately $66,044,433.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WisdomTree

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in WisdomTree during the third quarter valued at about $103,908,000. Massachusetts Financial Services Co. MA bought a new position in WisdomTree in the third quarter valued at approximately $34,737,000. Wellington Management Group LLP bought a new position in shares of WisdomTree during the third quarter worth $26,291,000. Toroso Investments LLC bought a new position in shares of WisdomTree during the third quarter worth $11,022,000. Finally, Northern Trust Corp bought a new position in shares of WisdomTree during the third quarter worth $10,407,000. 78.64% of the stock is 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.