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 prior to trading 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 traded.

Wall Street Analyst Weigh In

WT has been the subject of a number of research analyst reports. Oppenheimer upped their price target 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. The Goldman Sachs Group raised shares of WisdomTree from a "sell" rating to a "neutral" rating and upped their price target for the stock from $9.50 to $11.90 in a research note on Friday, June 27th. Northcoast Research raised shares of WisdomTree from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a research note on Wednesday, July 2nd. Finally, Morgan Stanley upped their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, WisdomTree has a consensus rating of "Moderate Buy" and an average price target of $12.90.

WisdomTree Stock Down 6.9%

The company has a current ratio of 3.83, a quick ratio of 2.79 and a debt-to-equity ratio of 1.23. The stock's 50-day moving average price is $11.39 and its 200-day moving average price is $9.87. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 35.13 and a beta of 1.14.

WisdomTree (NYSE:WT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. WisdomTree had a net margin of 15.77% and a return on equity of 25.46%. The business had revenue of $112.60 million for the quarter, compared to analysts' expectations of $110.66 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that WisdomTree, Inc. will post 0.72 earnings per share for the current year.

WisdomTree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. WisdomTree's payout ratio is 34.29%.

Institutional Investors Weigh In On WisdomTree

A number of institutional investors and hedge funds have recently modified their holdings of WT. American Century Companies Inc. grew its holdings in WisdomTree by 14.4% in the 4th quarter. American Century Companies Inc. now owns 332,404 shares of the company's stock valued at $3,490,000 after buying an additional 41,737 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in WisdomTree during the 4th quarter worth approximately $234,000. LPL Financial LLC purchased a new position in WisdomTree during the fourth quarter worth $132,000. JPMorgan Chase & Co. increased its holdings in WisdomTree by 157.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,489 shares of the company's stock valued at $9,245,000 after buying an additional 538,385 shares during the last quarter. Finally, Norges Bank bought a new position in WisdomTree in the 4th quarter worth approximately $918,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.