WisdomTree (NYSE:WT) Shares Gap Down to $8.84

WisdomTree, Inc. (NYSE:WTGet Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $8.84, but opened at $8.53. WisdomTree shares last traded at $8.81, with a volume of 362,923 shares traded.

Analyst Upgrades and Downgrades

WT has been the subject of several recent analyst reports. Craig Hallum began coverage on WisdomTree in a research note on Wednesday, March 6th. They set a “buy” rating and a $12.00 target price for the company. Northcoast Research upgraded shares of WisdomTree from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, December 28th. Finally, Oppenheimer increased their target price on shares of WisdomTree from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, WisdomTree presently has a consensus rating of “Moderate Buy” and an average target price of $9.85.

Read Our Latest Analysis on WisdomTree

WisdomTree Stock Performance

The company has a current ratio of 2.23, a quick ratio of 1.66 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 14.14 and a beta of 1.47. The stock’s 50 day moving average is $7.82 and its two-hundred day moving average is $7.12.

WisdomTree (NYSE:WTGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. WisdomTree had a return on equity of 15.15% and a net margin of 29.38%. The business had revenue of $90.84 million during the quarter, compared to analysts’ expectations of $90.32 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. Analysts anticipate that WisdomTree, Inc. will post 0.5 earnings per share for the current fiscal year.

WisdomTree Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.31%. WisdomTree’s dividend payout ratio (DPR) is 18.46%.

Insider Activity at WisdomTree

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

Hedge Funds Weigh In On WisdomTree

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of WisdomTree during the 3rd quarter worth $26,291,000. Nordea Investment Management AB acquired a new stake in shares of WisdomTree in the third quarter valued at approximately $3,096,000. Charles Schwab Investment Management Inc. purchased a new position in shares of WisdomTree during the 3rd quarter worth approximately $7,091,000. Swiss National Bank acquired a new position in shares of WisdomTree during the 3rd quarter worth approximately $1,723,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in WisdomTree in the 3rd quarter valued at approximately $535,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

WisdomTree Company Profile

(Get Free Report)

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.

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