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

WisdomTree, Inc. (NYSE:WT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $12.14 and last traded at $11.98, with a volume of 955784 shares. The stock had previously closed at $11.73.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WT shares. Craig Hallum boosted their price target on shares of WisdomTree from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Northcoast Research downgraded WisdomTree from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 15th. UBS Group raised their price objective on shares of WisdomTree from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price objective (up previously from $11.00) on shares of WisdomTree in a report on Monday, July 29th. Finally, Oppenheimer increased their target price on WisdomTree from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, WisdomTree has a consensus rating of “Moderate Buy” and an average target price of $12.25.

WisdomTree Stock Performance

The company has a quick ratio of 2.16, a current ratio of 2.88 and a debt-to-equity ratio of 1.36. The business has a 50 day simple moving average of $10.36 and a two-hundred day simple moving average of $10.11. The firm has a market cap of $1.75 billion, a PE ratio of 40.43 and a beta of 1.43.

WisdomTree Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.00%. The ex-dividend date was Wednesday, November 6th. WisdomTree’s payout ratio is 41.38%.

Insiders Place Their Bets

In other news, CEO Jonathan L. Steinberg bought 67,869 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $10.84 per share, with a total value of $735,699.96. Following the transaction, the chief executive officer now directly owns 9,240,707 shares in the company, valued at approximately $100,169,263.88. The trade was a 0.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Peter M. Ziemba sold 100,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.43, for a total value of $1,143,000.00. Following the completion of the transaction, the insider now directly owns 948,386 shares of the company’s stock, valued at approximately $10,840,051.98. This represents a 9.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of WisdomTree by 390.7% in the third quarter. FMR LLC now owns 2,859,073 shares of the company’s stock valued at $28,562,000 after purchasing an additional 2,276,452 shares during the period. Azora Capital LP raised its holdings in WisdomTree by 12.1% during the third quarter. Azora Capital LP now owns 10,609,577 shares of the company’s stock worth $105,990,000 after purchasing an additional 1,142,151 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of WisdomTree by 92.5% in the second quarter. Victory Capital Management Inc. now owns 1,922,414 shares of the company’s stock worth $19,051,000 after acquiring an additional 923,994 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of WisdomTree in the second quarter valued at approximately $5,748,000. Finally, Acadian Asset Management LLC purchased a new position in shares of WisdomTree during the second quarter valued at approximately $4,258,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

WisdomTree Company Profile

WisdomTree, Inc, through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes. The company also licenses its indexes to third parties for proprietary products, as well as offers a platform to promote the use of WisdomTree ETFs in 401(k) plans.