WisdomTree (NYSE:WT) Shares Gap Down – Here’s Why

WisdomTree, Inc. (NYSE:WT) 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 traded.

Analyst Upgrades and Downgrades

WT has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of WisdomTree from $9.75 to $8.50 and set a “sell” rating for the company in a research report on Monday, April 14th. Keefe, Bruyette & Woods reduced their price objective on WisdomTree from $12.00 to $10.50 and set a “market perform” rating for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, WisdomTree currently has an average rating of “Hold” and an average price target of $12.42.

WisdomTree Stock Performance

The firm has a market cap of $1.35 billion, a P/E ratio of 29.55 and a beta of 1.26. 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 stock’s 50 day moving average is $8.59 and its two-hundred day moving average is $9.81.

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

Insiders Place Their Bets

In other WisdomTree news, insider Alexis Marinof sold 90,980 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Navellier & Associates Inc. raised its position in WisdomTree by 11.4% in the 4th quarter. Navellier & Associates Inc. now owns 15,226 shares of the company’s stock valued at $160,000 after purchasing an additional 1,556 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of WisdomTree by 60.7% in the fourth quarter. Federated Hermes Inc. now owns 4,705 shares of the company’s stock valued at $49,000 after buying an additional 1,777 shares during the last quarter. EntryPoint Capital LLC raised its holdings in shares of WisdomTree by 6.7% in the fourth quarter. EntryPoint Capital LLC now owns 29,622 shares of the company’s stock valued at $311,000 after buying an additional 1,870 shares during the last quarter. Bank of Montreal Can grew its holdings in WisdomTree by 11.6% during the 4th quarter. Bank of Montreal Can now owns 18,702 shares of the company’s stock worth $196,000 after acquiring an additional 1,951 shares during the last quarter. Finally, Byrne Asset Management LLC increased its position in WisdomTree by 114.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,852 shares of the company’s stock valued at $34,000 after acquiring an additional 2,052 shares in the last quarter. 78.64% of the stock is 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.