WisdomTree (NYSE:WT) Shares Gap Down – Time to Sell?

WisdomTree, Inc. (NYSE:WT) shares 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.

Analysts Set New Price Targets

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

WisdomTree Trading Up 4.9 %

The business’s 50-day simple moving average is $8.59 and its 200-day simple moving average is $9.81. The company has a current ratio of 2.92, a quick ratio of 2.13 and a debt-to-equity ratio of 1.28. The company has a market cap of $1.35 billion, a PE ratio of 29.55 and a beta of 1.26.

WisdomTree (NYSE:WT) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. WisdomTree had a return on equity of 24.67% and a net margin of 15.59%. The firm had revenue of $108.08 million during the quarter, compared to analysts’ expectations of $108.47 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that WisdomTree, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity at WisdomTree

In other news, insider Alexis Marinof sold 90,980 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $9.87, for a total transaction of $897,972.60. Following the transaction, the insider now owns 221,146 shares of the company’s stock, valued at approximately $2,182,711.02. This represents a 29.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On WisdomTree

A number of large investors have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in shares of WisdomTree by 142.9% during the 4th quarter. Truist Financial Corp now owns 73,579 shares of the company’s stock worth $773,000 after buying an additional 43,293 shares during the period. Barclays PLC increased its stake in shares of WisdomTree by 201.3% in the third quarter. Barclays PLC now owns 268,668 shares of the company’s stock worth $2,684,000 after purchasing an additional 179,493 shares during the period. Caas Capital Management LP lifted its position in shares of WisdomTree by 73.8% during the 4th quarter. Caas Capital Management LP now owns 129,184 shares of the company’s stock worth $1,356,000 after purchasing an additional 54,863 shares during the last quarter. Gabelli Funds LLC boosted its stake in WisdomTree by 448.6% during the 4th quarter. Gabelli Funds LLC now owns 109,717 shares of the company’s stock valued at $1,152,000 after purchasing an additional 89,717 shares during the period. Finally, Principal Securities Inc. grew its holdings in WisdomTree by 146.1% in the 4th quarter. Principal Securities Inc. now owns 12,858 shares of the company’s stock valued at $135,000 after buying an additional 7,633 shares during the last quarter. Institutional investors 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.