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

WisdomTree, Inc. (NYSE:WT - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $8.73, but opened at $8.45. WisdomTree shares last traded at $8.90, with a volume of 217,799 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on WT shares. Keefe, Bruyette & Woods cut their price target on shares of WisdomTree from $12.00 to $10.50 and set a "market perform" rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group decreased their price target on WisdomTree from $9.75 to $8.50 and set a "sell" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.42.

WisdomTree Price Performance

The firm has a market cap of $1.37 billion, a PE ratio of 30.16 and a beta of 1.07. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.92 and a quick ratio of 2.13. The firm has a 50-day simple moving average of $8.60 and a 200 day simple moving average of $9.79.

WisdomTree (NYSE:WT - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. WisdomTree had a net margin of 15.59% and a return on equity of 24.67%. The business had revenue of $108.08 million for the quarter, compared to analysts' expectations of $108.47 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The business's revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that WisdomTree, Inc. will post 0.72 EPS for the current year.

WisdomTree Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, May 14th. WisdomTree's dividend payout ratio is presently 34.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of WisdomTree by 0.4% during 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 acquiring an additional 13,746 shares in the last quarter. Millennium Management LLC increased its holdings in shares of WisdomTree by 532.6% in the 4th quarter. Millennium Management LLC now owns 2,031,534 shares of the company's stock worth $21,331,000 after purchasing an additional 1,710,409 shares in the last quarter. Two Sigma Investments LP raised 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 purchasing an additional 142,226 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of WisdomTree by 1.1% during the fourth quarter. Northern Trust Corp now owns 1,440,197 shares of the company's stock valued at $15,122,000 after purchasing an additional 15,489 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of WisdomTree by 10.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,310,899 shares of the company's stock valued at $13,764,000 after buying an additional 119,762 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other 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.