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

WisdomTree, Inc. (NYSE:WT) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.66 and last traded at $16.6290, with a volume of 8611753 shares traded. The stock had previously closed at $16.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WT. Morgan Stanley upped their target price on shares of WisdomTree from $13.50 to $14.75 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WisdomTree in a research note on Wednesday, January 21st. Zacks Research raised WisdomTree from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Oppenheimer raised their target price on shares of WisdomTree from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, The Goldman Sachs Group decreased their price target on shares of WisdomTree from $14.75 to $13.25 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, WisdomTree currently has an average rating of “Moderate Buy” and an average target price of $15.80.

WisdomTree Stock Up 2.8%

The company has a current ratio of 2.82, a quick ratio of 2.41 and a debt-to-equity ratio of 2.16. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 25.58 and a beta of 1.08. The firm’s 50 day simple moving average is $12.68 and its two-hundred day simple moving average is $12.95.

WisdomTree (NYSE:WT) last announced its earnings results on Friday, October 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $125.62 million for the quarter, compared to analysts’ expectations of $122.00 million. WisdomTree had a net margin of 21.10% and a return on equity of 26.59%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that WisdomTree, Inc. will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other WisdomTree news, insider David M. Yates sold 6,820 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $11.12, for a total transaction of $75,838.40. Following the completion of the sale, the insider directly owned 152,123 shares in the company, valued at $1,691,607.76. This represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO R Jarrett Lilien sold 12,500 shares of WisdomTree stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $11.01, for a total value of $137,625.00. Following the completion of the transaction, the chief operating officer owned 998,638 shares in the company, valued at approximately $10,995,004.38. The trade was a 1.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 44,320 shares of company stock valued at $507,713. Corporate insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP grew its holdings in shares of WisdomTree by 1,679.0% during the 3rd quarter. Quarry LP now owns 2,206 shares of the company’s stock valued at $31,000 after purchasing an additional 2,082 shares during the last quarter. First Horizon Corp bought a new position in shares of WisdomTree in the 3rd quarter valued at $32,000. Flagship Harbor Advisors LLC acquired a new stake in shares of WisdomTree during the 4th quarter valued at $36,000. Neo Ivy Capital Management bought a new stake in WisdomTree during the 3rd quarter worth $37,000. Finally, Federated Hermes Inc. increased its holdings in WisdomTree by 105.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,011 shares of the company’s stock worth $42,000 after purchasing an additional 1,547 shares in the last quarter. 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.