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

WisdomTree, Inc. (NYSE:WT - Get Free Report) gapped down prior to trading 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.

Analyst Upgrades and Downgrades

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

WisdomTree Trading Up 0.7 %

The company has a 50 day simple moving average of $8.59 and a two-hundred day simple moving average of $9.80. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.13 and a current ratio of 2.92. The firm has a market cap of $1.35 billion, a PE ratio of 29.65 and a beta of 1.07.

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

WisdomTree Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. WisdomTree's dividend payout ratio (DPR) is presently 34.29%.

Insider Buying and Selling at WisdomTree

In related news, insider Alexis Marinof sold 90,980 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $9.87, for a total transaction of $897,972.60. Following the sale, the insider now directly owns 221,146 shares of the company's stock, valued at approximately $2,182,711.02. This represents a 29.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WisdomTree

A number of institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in 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 purchasing an additional 13,746 shares in the last quarter. Millennium Management LLC raised its position in shares of WisdomTree by 532.6% during 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 during the last quarter. Two Sigma Investments LP lifted its stake in WisdomTree by 10.5% in the 4th quarter. Two Sigma Investments LP now owns 1,500,371 shares of the company's stock valued at $15,754,000 after buying an additional 142,226 shares in the last quarter. Northern Trust Corp boosted its holdings in WisdomTree by 1.1% in the 4th quarter. Northern Trust Corp now owns 1,440,197 shares of the company's stock worth $15,122,000 after buying an additional 15,489 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in WisdomTree by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,310,899 shares of the company's stock worth $13,764,000 after buying an additional 119,762 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.