UBS Group Raises WisdomTree (NYSE:WT) Price Target to $12.00

WisdomTree (NYSE:WT) had its price objective hoisted by research analysts at UBS Group from $9.00 to $12.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 31.43% from the company’s current price.

Other research analysts have also issued research reports about the stock. Oppenheimer raised their price target on shares of WisdomTree from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Craig Hallum began coverage on shares of WisdomTree in a research report on Wednesday, March 6th. They issued a “buy” rating and a $12.00 price target for the company. Northland Securities raised shares of WisdomTree from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Wednesday, April 3rd. Finally, Northcoast Research raised shares of WisdomTree from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Thursday, December 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.71.

WisdomTree Price Performance

Shares of WT stock traded up $0.01 on Friday, reaching $9.13. The company had a trading volume of 390,664 shares, compared to its average volume of 1,152,334. The business’s 50-day moving average is $8.25 and its 200 day moving average is $7.27. The stock has a market capitalization of $1.39 billion, a PE ratio of 14.05 and a beta of 1.49. WisdomTree has a one year low of $6.05 and a one year high of $9.69. The company has a quick ratio of 1.66, a current ratio of 2.23 and a debt-to-equity ratio of 0.67.

WisdomTree (NYSE:WT) last issued its quarterly earnings data on Friday, February 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $90.84 million during the quarter, compared to analyst estimates of $90.32 million. WisdomTree had a net margin of 29.38% and a return on equity of 15.15%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS. Equities research analysts forecast that WisdomTree will post 0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jonathan L. Steinberg acquired 303,781 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $7.20 per share, with a total value of $2,187,223.20. Following the acquisition, the chief executive officer now directly owns 9,172,838 shares of the company’s stock, valued at $66,044,433.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On WisdomTree

A number of hedge funds have recently bought and sold shares of WT. Wellington Management Group LLP bought a new stake in WisdomTree in the 3rd quarter valued at about $26,291,000. Vanguard Group Inc. purchased a new position in shares of WisdomTree during the third quarter worth about $103,908,000. Nordea Investment Management AB purchased a new position in shares of WisdomTree during the third quarter worth about $3,096,000. Charles Schwab Investment Management Inc. purchased a new position in shares of WisdomTree during the third quarter worth about $7,091,000. Finally, Swiss National Bank purchased a new position in shares of WisdomTree during the third quarter worth about $1,723,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.