WisdomTree (NYSE:WT) Price Target Cut to $11.00 by Analysts at Oppenheimer

WisdomTree (NYSE:WT) had its target price decreased by Oppenheimer from $12.00 to $11.00 in a report issued on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on WT. Northcoast Research raised WisdomTree from a neutral rating to a buy rating and set a $9.00 target price on the stock in a report on Thursday, December 28th. Morgan Stanley boosted their price target on WisdomTree from $7.75 to $9.25 and gave the company an equal weight rating in a report on Wednesday, April 17th. Craig Hallum began coverage on WisdomTree in a research report on Wednesday, March 6th. They set a buy rating and a $12.00 target price on the stock. Northland Securities raised WisdomTree from a market perform rating to an outperform rating and set a $12.00 target price on the stock in a research report on Wednesday, April 3rd. Finally, UBS Group increased their price objective on WisdomTree from $9.00 to $12.00 and gave the company a buy rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $10.88.

WisdomTree Stock Performance

WT stock opened at $8.77 on Monday. The company has a market cap of $1.33 billion, a P/E ratio of 13.49 and a beta of 1.49. WisdomTree has a 1 year low of $6.05 and a 1 year high of $9.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.23 and a quick ratio of 1.66. The stock’s fifty day moving average price is $8.61 and its 200-day moving average price is $7.40.

WisdomTree (NYSE:WT) last released its earnings results on Friday, February 2nd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $90.84 million for the quarter, compared to the consensus estimate of $90.32 million. WisdomTree had a return on equity of 15.15% and a net margin of 29.38%. WisdomTree’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. On average, equities analysts forecast that WisdomTree will post 0.52 earnings per share for the current year.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Tuesday, February 13th. WisdomTree’s payout ratio is 18.46%.

Insider Buying and Selling at WisdomTree

In other news, CEO Jonathan L. Steinberg bought 303,781 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $7.20 per share, with a total value of $2,187,223.20. Following the completion of the transaction, the chief executive officer now directly owns 9,172,838 shares in the company, valued at $66,044,433.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WisdomTree

Several institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of WisdomTree by 15.2% during the fourth quarter. Victory Capital Management Inc. now owns 22,203 shares of the company’s stock worth $154,000 after purchasing an additional 2,927 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of WisdomTree during the third quarter worth $26,000. Avior Wealth Management LLC acquired a new position in shares of WisdomTree during the fourth quarter worth $40,000. Allspring Global Investments Holdings LLC acquired a new position in shares of WisdomTree during the fourth quarter worth $46,000. Finally, Simplex Trading LLC acquired a new position in shares of WisdomTree during the fourth quarter worth $55,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

About WisdomTree

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.