WisdomTree (NYSE:WT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

WisdomTree (NYSE:WT) had its price objective boosted by analysts at The Goldman Sachs Group from $8.50 to $9.50 in a report released on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 5.47% from the company’s current price.

WisdomTree Stock Performance

WT stock opened at $10.05 on Thursday. The firm has a 50 day simple moving average of $9.14 and a 200 day simple moving average of $9.55. WisdomTree has a 52 week low of $7.47 and a 52 week high of $12.45. The stock has a market cap of $1.48 billion, a P/E ratio of 32.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.13 and a current ratio of 2.92.

WisdomTree (NYSE:WT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $108.08 million for the quarter, compared to the consensus estimate of $108.47 million. WisdomTree had a net margin of 15.59% and a return on equity of 24.67%. WisdomTree’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Research analysts anticipate that WisdomTree will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WisdomTree

Several institutional investors have recently bought and sold shares of WT. Millennium Management LLC raised its stake in shares of WisdomTree by 110.0% in the 1st quarter. Millennium Management LLC now owns 4,266,947 shares of the company’s stock valued at $38,061,000 after acquiring an additional 2,235,413 shares in the last quarter. Simcoe Capital Management LLC acquired a new position in WisdomTree during the first quarter valued at approximately $35,582,000. Massachusetts Financial Services Co. MA raised its position in shares of WisdomTree by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,698,844 shares of the company’s stock valued at $32,994,000 after purchasing an additional 13,746 shares during the period. Nuveen LLC acquired a new stake in shares of WisdomTree in the first quarter worth $17,003,000. Finally, Two Sigma Investments LP lifted its stake in shares of WisdomTree by 10.5% in the fourth quarter. Two Sigma Investments LP now owns 1,500,371 shares of the company’s stock worth $15,754,000 after buying an additional 142,226 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.