WisdomTree (NYSE:WT) Trading 4.5% Higher After Insider Buying Activity

WisdomTree, Inc. (NYSE:WT)’s stock price traded up 4.5% on Tuesday following insider buying activity. The stock traded as high as $11.54 and last traded at $11.53. 1,231,459 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 1,296,972 shares. The stock had previously closed at $11.03.

Specifically, CEO Jonathan L. Steinberg bought 67,869 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $10.84 per share, for a total transaction of $735,699.96. Following the completion of the purchase, the chief executive officer now owns 9,240,707 shares of the company’s stock, valued at approximately $100,169,263.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of brokerages recently commented on WT. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 price objective (up previously from $11.00) on shares of WisdomTree in a research report on Monday, July 29th. Northland Securities increased their target price on shares of WisdomTree from $12.00 to $13.50 and gave the company an “outperform” rating in a report on Monday, July 29th. Craig Hallum increased their target price on shares of WisdomTree from $12.00 to $15.00 and gave the company a “buy” rating in a report on Monday, July 29th. UBS Group increased their target price on shares of WisdomTree from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Northcoast Research cut shares of WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, WisdomTree has an average rating of “Moderate Buy” and a consensus target price of $12.25.

WisdomTree Price Performance

The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.16 and a current ratio of 2.88. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 39.07 and a beta of 1.43. The company’s fifty day moving average is $10.14 and its two-hundred day moving average is $10.02.

WisdomTree Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, November 6th. WisdomTree’s dividend payout ratio (DPR) is 41.38%.

Institutional Investors Weigh In On WisdomTree

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC boosted its stake in WisdomTree by 85.8% during the 2nd quarter. CWM LLC now owns 2,746 shares of the company’s stock valued at $27,000 after purchasing an additional 1,268 shares during the period. Headlands Technologies LLC acquired a new stake in shares of WisdomTree in the 2nd quarter worth approximately $27,000. Gladius Capital Management LP acquired a new stake in shares of WisdomTree in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in shares of WisdomTree by 76.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,054 shares of the company’s stock worth $40,000 after acquiring an additional 1,761 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of WisdomTree in the 1st quarter worth approximately $105,000. Institutional investors 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.