WisdomTree (NYSE:WT) Reaches New 12-Month High Following Better-Than-Expected Earnings

WisdomTree, Inc. (NYSE:WT) shares reached a new 52-week high during trading on Monday following a stronger than expected earnings report. 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 (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $177.20 million for the quarter, compared to the consensus estimate of $170.62 million. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The company’s revenue was up 57.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS.

WisdomTree Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, August 12th. WisdomTree’s payout ratio is presently 29.27%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WT. Oppenheimer raised their price objective on WisdomTree from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Research downgraded WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.80 price target on shares of WisdomTree in a research report on Tuesday, May 5th. Raymond James Financial started coverage on shares of WisdomTree in a research report on Tuesday, April 21st. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of WisdomTree from a “hold” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, WisdomTree presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Insider Activity

In related news, COO R Jarrett Lilien sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $18.99, for a total transaction of $569,700.00. Following the transaction, the chief operating officer 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Yates sold 15,000 shares of WisdomTree stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $18.06, for a total transaction of $270,900.00. Following the completion of the sale, the insider owned 157,499 shares of the company’s stock, valued at $2,844,431.94. This trade represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of WisdomTree by 236.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,674,630 shares of the company’s stock worth $134,477,000 after acquiring an additional 6,799,654 shares in the last quarter. Capital World Investors bought a new position in shares of WisdomTree in the 4th quarter valued at approximately $30,835,000. Bank of America Corp DE lifted its holdings in WisdomTree by 556.4% in the 1st quarter. Bank of America Corp DE now owns 2,327,389 shares of the company’s stock worth $33,887,000 after purchasing an additional 1,972,847 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in WisdomTree by 116.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,389,653 shares of the company’s stock worth $41,320,000 after purchasing an additional 1,823,777 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in WisdomTree by 463.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,697,707 shares of the company’s stock worth $23,598,000 after purchasing an additional 1,396,569 shares during the period. Institutional investors own 78.64% of the company’s stock.

WisdomTree Stock Performance

The company has a market cap of $3.21 billion, a price-to-earnings ratio of 40.31 and a beta of 1.17. 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 fifty day simple moving average of $18.66 and a 200 day simple moving average of $17.19.

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.