WisdomTree (NYSE:WT) Stock Gets Downgrade from Wall Street Zen

WisdomTree (NYSE:WT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on WT. Craig Hallum raised their price objective on WisdomTree from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $26.00 target price on shares of WisdomTree in a report on Thursday, August 27th. Northland Securities boosted their target price on shares of WisdomTree from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. The Goldman Sachs Group increased their price target on shares of WisdomTree from $18.30 to $21.30 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Finally, Morgan Stanley raised their price target on shares of WisdomTree from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.05.

WisdomTree Stock Up 0.1%

WisdomTree stock opened at $21.21 on Friday. The company has a quick ratio of 2.73, a current ratio of 3.00 and a debt-to-equity ratio of 2.53. The firm has a market cap of $3.21 billion, a P/E ratio of 40.79 and a beta of 1.17. The business has a fifty day moving average of $23.32 and a two-hundred day moving average of $20.33. WisdomTree has a twelve month low of $10.69 and a twelve month high of $25.91.

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

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, September 9th. The stock was sold at an average price of $24.56, for a total value of $736,800.00. Following the completion of the sale, the chief operating officer owned 1,080,245 shares of the company’s stock, valued at $26,530,817.20. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in WisdomTree during the 2nd quarter valued at approximately $27,000. Team Financial Group LLC acquired a new position in WisdomTree in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in WisdomTree by 216.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,950 shares of the company’s stock worth $36,000 after buying an additional 2,017 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new position in shares of WisdomTree in the 2nd quarter valued at about $36,000. Finally, Persistent Asset Partners Ltd purchased a new stake in WisdomTree in the 2nd quarter worth $75,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

About WisdomTree

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.