WisdomTree (NYSE:WT) Trading Down 2.4% – Here’s What Happened

WisdomTree, Inc. (NYSE:WT)’s stock price dropped 2.4% on Wednesday . The stock traded as low as $11.69 and last traded at $11.71. Approximately 165,536 shares changed hands during trading, a decline of 87% from the average daily volume of 1,312,031 shares. The stock had previously closed at $12.00.

Analyst Ratings Changes

WT has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of WisdomTree from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Northcoast Research cut shares of WisdomTree from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.25.

WisdomTree Trading Down 2.0 %

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 stock’s 50 day moving average is $10.59 and its two-hundred day moving average is $10.20. The company has a market capitalization of $1.72 billion, a PE ratio of 40.55 and a beta of 1.43.

WisdomTree Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.02%. WisdomTree’s dividend payout ratio is presently 41.38%.

Insider Activity at WisdomTree

In other news, insider Peter M. Ziemba sold 100,000 shares of WisdomTree stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.43, for a total value of $1,143,000.00. Following the transaction, the insider now owns 948,386 shares of the company’s stock, valued at $10,840,051.98. The trade was a 9.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan L. Steinberg bought 67,869 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $10.84 per share, with a total value of $735,699.96. Following the transaction, the chief executive officer now directly owns 9,240,707 shares of the company’s stock, valued at $100,169,263.88. The trade was a 0.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WisdomTree

Large investors have recently made changes to their positions in the business. Amalgamated Bank boosted its position in shares of WisdomTree by 2.8% in the 3rd quarter. Amalgamated Bank now owns 36,023 shares of the company’s stock worth $360,000 after purchasing an additional 986 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in WisdomTree by 3.1% in the third quarter. Oppenheimer & Co. Inc. now owns 33,500 shares of the company’s stock worth $335,000 after acquiring an additional 1,000 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in shares of WisdomTree by 3.3% during the third quarter. Impact Partnership Wealth LLC now owns 34,467 shares of the company’s stock worth $344,000 after acquiring an additional 1,108 shares during the last quarter. CWM LLC increased its holdings in shares of WisdomTree by 85.8% during the second quarter. CWM LLC now owns 2,746 shares of the company’s stock valued at $27,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in WisdomTree by 2.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the company’s stock worth $574,000 after purchasing an additional 1,300 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.