WisdomTree (NYSE:WT) Shares Gap Down – Should You Sell?

WisdomTree, Inc. (NYSE:WT)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $10.50, but opened at $10.10. WisdomTree shares last traded at $10.23, with a volume of 351,038 shares.

Analyst Ratings Changes

A number of brokerages have commented on WT. Northcoast Research lowered WisdomTree from a “buy” rating to a “neutral” rating in a report on Thursday. UBS Group raised their price target on shares of WisdomTree from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.79.

WisdomTree Stock Performance

The stock has a 50 day moving average of $11.08 and a 200 day moving average of $10.45. The company has a quick ratio of 2.16, a current ratio of 2.88 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 35.00 and a beta of 1.46.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, November 6th. WisdomTree’s payout ratio is presently 41.38%.

Insider Buying and Selling

In other WisdomTree news, insider Peter M. Ziemba sold 100,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.43, for a total transaction of $1,143,000.00. Following the completion of the transaction, the insider now owns 948,386 shares of the company’s stock, valued at approximately $10,840,051.98. The trade was a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Etfs Capital Limited. sold 3,000,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.34, for a total transaction of $34,020,000.00. Following the completion of the transaction, the insider now directly owns 12,250,000 shares of the company’s stock, valued at $138,915,000. This trade represents a 19.67 % decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of WisdomTree

Hedge funds have recently added to or reduced their stakes in the stock. Impact Partnership Wealth LLC grew its holdings in shares of WisdomTree by 497.4% during the second quarter. Impact Partnership Wealth LLC now owns 33,359 shares of the company’s stock worth $331,000 after purchasing an additional 27,775 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in WisdomTree during the 2nd quarter worth approximately $5,748,000. Victory Capital Management Inc. increased its position in WisdomTree by 92.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,922,414 shares of the company’s stock valued at $19,051,000 after acquiring an additional 923,994 shares during the period. Arizona State Retirement System raised its stake in shares of WisdomTree by 9.8% during the second quarter. Arizona State Retirement System now owns 34,009 shares of the company’s stock valued at $337,000 after acquiring an additional 3,022 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of WisdomTree during the second quarter worth $118,000. 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.