Oppenheimer Cuts WisdomTree (NYSE:WT) Price Target to $11.00

WisdomTree (NYSE:WT) had its price target cut by equities research analysts at Oppenheimer from $12.00 to $11.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 22.63% from the company’s current price.

A number of other equities analysts have also recently weighed in on WT. Northcoast Research raised shares of WisdomTree from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, December 28th. UBS Group upped their price target on shares of WisdomTree from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Northland Securities raised shares of WisdomTree from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Wednesday, April 3rd. Craig Hallum assumed coverage on shares of WisdomTree in a research note on Wednesday, March 6th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Morgan Stanley increased their price objective on shares of WisdomTree from $7.75 to $9.25 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, WisdomTree has an average rating of “Moderate Buy” and an average price target of $10.88.

WisdomTree Stock Performance

Shares of WT opened at $8.97 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.66 and a current ratio of 2.23. The stock has a market capitalization of $1.36 billion, a P/E ratio of 13.80 and a beta of 1.49. The company’s fifty day moving average is $8.55 and its two-hundred day moving average is $7.38. WisdomTree has a 1 year low of $6.05 and a 1 year high of $9.69.

WisdomTree (NYSE:WT) last posted its quarterly earnings results on Friday, February 2nd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. WisdomTree had a net margin of 29.38% and a return on equity of 15.15%. The business had revenue of $90.84 million for the quarter, compared to analysts’ expectations of $90.32 million. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, sell-side analysts predict that WisdomTree will post 0.52 earnings per share for the current year.

Insider Activity at WisdomTree

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WT. Vanguard Group Inc. purchased a new position in WisdomTree in the 3rd quarter valued at about $103,908,000. Massachusetts Financial Services Co. MA purchased a new position in shares of WisdomTree during the 3rd quarter worth about $34,737,000. Wellington Management Group LLP purchased a new position in shares of WisdomTree during the 3rd quarter worth about $26,291,000. Toroso Investments LLC purchased a new position in shares of WisdomTree during the 3rd quarter worth about $11,022,000. Finally, Capital Management Corp VA purchased a new position in shares of WisdomTree during the 4th quarter worth about $8,342,000. 78.64% of the stock is currently 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.