WisdomTree (NYSE:WT) Shares Gap Down - Here's What Happened

Key Points

• WisdomTree's stock price opened at $11.95 after a gap down from a previous close of $13.27, with a last traded price of $11.87 and a trading volume of over 1 million shares.
• Several analysts have upgraded WisdomTree's rating, with price targets ranging from $11.00 to $15.00, showcasing a consensus rating of "Moderate Buy" and an average price target of $12.90.
• WisdomTree reported earnings of $0.18 per share for the latest quarter, matching expectations, along with a 5.2% increase in revenue year-over-year, totaling $112.60 million.

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $13.27, but opened at $11.95. WisdomTree shares last traded at $11.87, with a volume of 1,032,287 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Oppenheimer lifted their target price on shares of WisdomTree from $12.00 to $15.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their price objective on shares of WisdomTree from $9.75 to $11.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Northcoast Research raised WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group upgraded shares of WisdomTree from a "sell" rating to a "neutral" rating and lifted their target price for the company from $9.50 to $11.90 in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.90.

WisdomTree Stock Performance

The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 32.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.44 and a quick ratio of 1.04. The firm has a fifty day moving average of $11.52 and a 200 day moving average of $9.91.

WisdomTree (NYSE:WT - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The business had revenue of $112.60 million during the quarter, compared to the consensus estimate of $110.66 million. WisdomTree had a return on equity of 25.17% and a net margin of 16.25%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.16 EPS. As a group, sell-side analysts forecast that WisdomTree, Inc. will post 0.72 EPS for the current year.

WisdomTree Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a $0.03 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $0.12 dividend on an annualized basis and a yield of 0.9%. WisdomTree's payout ratio is currently 30.77%.

Institutional Investors Weigh In On WisdomTree

A number of institutional investors and hedge funds have recently made changes to their positions in WT. Simcoe Capital Management LLC purchased a new stake in shares of WisdomTree in the 1st quarter valued at $35,582,000. Millennium Management LLC boosted its holdings in WisdomTree by 110.0% during 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 during the period. Nuveen LLC acquired a new position in WisdomTree in the 1st quarter valued at about $17,003,000. Nuveen Asset Management LLC increased its stake in WisdomTree by 139.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,270,963 shares of the company's stock worth $13,345,000 after purchasing an additional 741,134 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of WisdomTree by 379.3% during the first quarter. Jane Street Group LLC now owns 880,977 shares of the company's stock worth $7,858,000 after purchasing an additional 697,156 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.