WisdomTree (NYSE:WT) Hits New 52-Week High Following Better-Than-Expected Earnings

WisdomTree, Inc. (NYSE:WT) hit a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $21.29 and last traded at $20.96, with a volume of 3747952 shares changing hands. The stock had previously closed at $19.37.

The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $177.20 million during the quarter, compared to analyst estimates of $170.62 million. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS.

WisdomTree Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, August 12th. WisdomTree’s dividend payout ratio is 29.27%.

Analysts Set New Price Targets

WT has been the topic of several research analyst reports. Oppenheimer lifted their price target on WisdomTree from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday. Northland Securities set a $22.00 target price on WisdomTree in a research note on Tuesday, June 2nd. Zacks Research lowered WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.80 price target on shares of WisdomTree in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of WisdomTree from a “buy (b)” rating to a “hold (c)” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, WisdomTree has a consensus rating of “Hold” and an average target price of $20.36.

Insider Activity at WisdomTree

In other news, COO R Jarrett Lilien sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.99, for a total transaction of $569,700.00. Following the completion of the sale, the chief operating officer directly owned 1,110,245 shares of the company’s stock, valued at $21,083,552.55. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David M. Yates sold 15,000 shares of WisdomTree stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total value of $270,900.00. Following the completion of the transaction, the insider owned 157,499 shares in the company, valued at $2,844,431.94. The trade was a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On WisdomTree

A number of hedge funds and other institutional investors have recently modified their holdings of WT. Team Financial Group LLC acquired a new stake in WisdomTree during the 1st quarter worth about $29,000. Quarry LP lifted its stake in WisdomTree by 1,679.0% during the third quarter. Quarry LP now owns 2,206 shares of the company’s stock valued at $31,000 after buying an additional 2,082 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of WisdomTree by 163.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,454 shares of the company’s stock worth $30,000 after buying an additional 1,521 shares during the period. Quattro Advisors LLC purchased a new position in shares of WisdomTree in the fourth quarter worth approximately $31,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of WisdomTree in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

WisdomTree Price Performance

The stock’s fifty day moving average price is $18.66 and its 200-day moving average price is $17.19. The company has a debt-to-equity ratio of 2.53, a current ratio of 3.00 and a quick ratio of 2.73. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 40.31 and a beta of 1.17.

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.