WisdomTree (NYSE:WT) Hits New 12-Month High – Here’s What Happened

WisdomTree, Inc. (NYSE:WT) shares hit a new 52-week high during 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WT shares. The Goldman Sachs Group lowered their target price 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. Zacks Research cut WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Northland Securities set a $19.00 price target on WisdomTree in a report on Friday, January 23rd. Oppenheimer upped their price objective on shares of WisdomTree from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday. Finally, Morgan Stanley lifted their price target on shares of WisdomTree from $13.50 to $14.75 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, WisdomTree presently has an average rating of “Moderate Buy” and an average target price of $15.80.

WisdomTree Stock Down 2.6%

The company has a quick ratio of 2.41, a current ratio of 2.82 and a debt-to-equity ratio of 2.16. The stock has a market cap of $2.32 billion, a PE ratio of 25.42 and a beta of 1.08. The firm has a fifty day moving average of $12.92 and a 200 day moving average of $13.00.

WisdomTree (NYSE:WT) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. WisdomTree had a return on equity of 26.59% and a net margin of 21.10%.The company had revenue of $125.62 million for the quarter, compared to analyst estimates of $122.00 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that WisdomTree, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On WisdomTree

Several hedge funds have recently modified their holdings of WT. Quarry LP boosted its holdings in WisdomTree by 1,679.0% during the third quarter. Quarry LP now owns 2,206 shares of the company’s stock worth $31,000 after buying an additional 2,082 shares in the last quarter. First Horizon Corp acquired a new stake in shares of WisdomTree during the 3rd quarter valued at $32,000. Flagship Harbor Advisors LLC purchased a new position in WisdomTree in the fourth quarter valued at about $36,000. Neo Ivy Capital Management bought a new position in WisdomTree during the third quarter valued at approximately $37,000. Finally, Torren Management LLC acquired a new stake in shares of WisdomTree in the 4th quarter valued at $37,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.