WisdomTree (NYSE:WT) Stock Price Up 4.5% Following 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 traded 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 stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $10.84 per share, with a total value of $735,699.96. Following the purchase, the chief executive officer now directly owns 9,240,707 shares in the company, valued at $100,169,263.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WT shares. Northland Securities increased their price objective 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 raised their price objective on shares of WisdomTree from $12.00 to $15.00 and gave the stock 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 report on Sunday, September 15th. Oppenheimer upped their price target on WisdomTree from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 target price (up from $11.00) on shares of WisdomTree in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, WisdomTree currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

WisdomTree Trading Up 4.5 %

The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 38.97 and a beta of 1.43. 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 company has a 50-day moving average price of $10.06 and a 200-day moving average price of $9.99.

WisdomTree Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. WisdomTree’s dividend payout ratio (DPR) is presently 41.38%.

Institutional Trading of WisdomTree

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC raised its stake in shares of WisdomTree by 85.8% during the 2nd quarter. CWM LLC now owns 2,746 shares of the company’s stock worth $27,000 after buying an additional 1,268 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of WisdomTree during the second quarter valued at approximately $27,000. Gladius Capital Management LP acquired a new stake in shares of WisdomTree during the second quarter worth $32,000. GAMMA Investing LLC boosted its position in shares of WisdomTree by 76.8% in the third 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 last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of WisdomTree in the 1st quarter valued at $105,000. Hedge funds and other 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.