WisdomTree (NYSE:WT) Hits New 52-Week High – Time to Buy?

Shares of WisdomTree, Inc. (NYSE:WT) hit a new 52-week high on Thursday . The stock traded as high as $19.89 and last traded at $19.6450, with a volume of 2377399 shares. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

WT has been the subject of several research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.80 price target on shares of WisdomTree in a report on Tuesday, May 5th. Wall Street Zen downgraded WisdomTree from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research raised shares of WisdomTree from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings cut shares of WisdomTree from a “buy (b)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Raymond James Financial initiated coverage on shares of WisdomTree in a research report on Tuesday, April 21st. They set an “outperform” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.06.

WisdomTree Stock Performance

The company has a market cap of $2.94 billion, a price-to-earnings ratio of 46.83 and a beta of 1.18. The company has a debt-to-equity ratio of 2.37, a current ratio of 4.57 and a quick ratio of 4.18. The firm has a fifty day simple moving average of $18.46 and a 200 day simple moving average of $16.44.

WisdomTree (NYSE:WT) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. WisdomTree had a net margin of 11.26% and a return on equity of 33.31%. The business had revenue of $159.50 million during the quarter, compared to analysts’ expectations of $156.96 million. During the same period in the previous year, the company earned $0.16 earnings per share. WisdomTree’s revenue for the quarter was up 47.5% on a year-over-year basis. On average, sell-side analysts expect that WisdomTree, Inc. will post 1.14 earnings per share for the current fiscal year.

WisdomTree Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, May 13th. WisdomTree’s dividend payout ratio is 29.27%.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in WisdomTree by 2.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 456,990 shares of the company’s stock valued at $4,076,000 after purchasing an additional 12,402 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of WisdomTree by 379.3% during the 1st quarter. Jane Street Group LLC now owns 880,977 shares of the company’s stock worth $7,858,000 after purchasing an additional 697,156 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of WisdomTree by 35.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 301,138 shares of the company’s stock worth $3,466,000 after purchasing an additional 78,837 shares during the period. Sei Investments Co. raised its position in shares of WisdomTree by 722.3% during the second quarter. Sei Investments Co. now owns 93,039 shares of the company’s stock valued at $1,071,000 after buying an additional 81,725 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of WisdomTree by 20.0% during the second quarter. AQR Capital Management LLC now owns 482,313 shares of the company’s stock valued at $5,551,000 after buying an additional 80,361 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

WisdomTree Company Profile

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.