WisdomTree (NYSE:WT) Downgraded by Zacks Research to “Hold”

WisdomTree (NYSE:WT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other brokerages have also recently commented on WT. Oppenheimer boosted their price target on shares of WisdomTree from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Morgan Stanley reduced their target price on shares of WisdomTree from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday. Wall Street Zen cut WisdomTree from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Northland Securities boosted their target price on WisdomTree from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Finally, The Goldman Sachs Group upped their target price on WisdomTree from $18.30 to $21.30 and gave the company a “neutral” rating in a report on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, WisdomTree presently has a consensus rating of “Moderate Buy” and an average target price of $25.72.

WisdomTree Stock Performance

WT opened at $21.29 on Tuesday. The business has a 50 day moving average price of $23.18 and a two-hundred day moving average price of $18.96. 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 company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 40.95 and a beta of 1.17. WisdomTree has a 1-year low of $10.69 and a 1-year high of $25.91.

WisdomTree (NYSE:WT) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $177.16 million for the quarter, compared to analysts’ expectations of $170.62 million. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. Research analysts predict that WisdomTree will post 1.20 EPS for the current fiscal year.

Insiders Place Their Bets

In other WisdomTree news, COO R. Jarrett Lilien sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $24.56, for a total transaction of $736,800.00. Following the sale, the chief operating officer directly owned 1,080,245 shares of the company’s stock, valued at $26,530,817.20. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.10% of the company’s stock.

Institutional Trading of WisdomTree

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in WisdomTree during the second quarter valued at approximately $326,513,000. Azora Capital LP purchased a new stake in WisdomTree in the 2nd quarter worth approximately $104,698,000. Bank of America Corp DE purchased a new stake in WisdomTree in the 2nd quarter worth approximately $33,743,000. Jupiter Topco LLC acquired a new stake in shares of WisdomTree during the 2nd quarter valued at $24,616,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of WisdomTree by 41.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,134,430 shares of the company’s stock valued at $60,197,000 after acquiring an additional 1,205,097 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

WisdomTree Company Profile

WisdomTree, Inc is a financial services company that sponsors and manages exchange-traded funds (ETFs) and exchange-traded products. Its offerings provide access to equities, fixed income, currencies, commodities, alternatives and other asset classes through rules-based investment strategies designed for individual and institutional investors.

The company also provides model portfolios, separately managed accounts and other investment solutions for financial professionals. In addition, WisdomTree has developed products and capabilities related to digital assets and blockchain-enabled financial services, subject to applicable regulatory requirements.

Founded in 1985 and formerly known as WisdomTree Investments, the company launched its first ETFs in 2006 and became known for dividend-focused and fundamentally weighted strategies.