WisdomTree (NYSE:WT) Shares Gap Up Following Earnings Beat

WisdomTree, Inc. (NYSE:WT) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $10.38, but opened at $10.89. WisdomTree shares last traded at $10.55, with a volume of 244,684 shares changing hands.

The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. WisdomTree had a net margin of 19.72% and a return on equity of 19.22%. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.80 million.

WisdomTree Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 6th. WisdomTree’s dividend payout ratio (DPR) is presently 24.49%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (up from $11.00) on shares of WisdomTree in a report on Monday, July 29th. Oppenheimer upped their price target on WisdomTree from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Northcoast Research downgraded WisdomTree from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 15th. Craig Hallum increased their target price on shares of WisdomTree from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Northland Securities lifted their price target on shares of WisdomTree from $12.00 to $13.50 and gave the company an “outperform” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, WisdomTree currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Institutional Investors Weigh In On WisdomTree

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its position in shares of WisdomTree by 85.8% during the 2nd quarter. CWM LLC now owns 2,746 shares of the company’s stock worth $27,000 after acquiring an additional 1,268 shares in the last quarter. Headlands Technologies LLC acquired a new stake in WisdomTree during the second quarter worth approximately $27,000. Gladius Capital Management LP purchased a new stake in shares of WisdomTree during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC boosted its holdings in shares of WisdomTree by 76.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,054 shares of the company’s stock valued at $40,000 after buying an additional 1,761 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of WisdomTree in the 1st quarter valued at $105,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

WisdomTree Price Performance

The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.37 and a beta of 1.43. The company has a current ratio of 3.01, a quick ratio of 2.18 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $9.96 and its 200 day moving average is $9.86.

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.