WisdomTree (NYSE:WT) Stock Price Down 2.4% – Should You Sell?

WisdomTree, Inc. (NYSE:WT)’s stock price was down 2.4% during trading on Wednesday . The stock traded as low as $11.69 and last traded at $11.71. Approximately 165,536 shares changed hands during mid-day 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

Several research analysts have commented on WT shares. Northcoast Research downgraded shares of WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 15th. UBS Group raised their price objective on shares of WisdomTree from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

WisdomTree Stock Performance

The company has a market cap of $1.70 billion, a PE ratio of 40.31 and a beta of 1.43. The business’s 50-day moving average is $10.55 and its 200 day moving average is $10.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.16 and a current ratio of 2.88.

WisdomTree Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Wednesday, November 6th. WisdomTree’s payout ratio is 41.38%.

Insider Buying and Selling at WisdomTree

In related news, CEO Jonathan L. Steinberg bought 67,869 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $10.84 per share, with a total value of $735,699.96. Following the purchase, the chief executive officer now owns 9,240,707 shares of the company’s stock, valued at approximately $100,169,263.88. This trade represents a 0.74 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter M. Ziemba sold 100,000 shares of WisdomTree stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $11.43, for a total transaction of $1,143,000.00. Following the sale, the insider now directly owns 948,386 shares in the company, valued at $10,840,051.98. The trade was a 9.54 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On WisdomTree

Several institutional investors and hedge funds have recently modified their holdings of WT. FMR LLC lifted its stake in WisdomTree by 390.7% during the 3rd quarter. FMR LLC now owns 2,859,073 shares of the company’s stock valued at $28,562,000 after acquiring an additional 2,276,452 shares during the period. Azora Capital LP lifted its holdings in shares of WisdomTree by 12.1% during the 3rd quarter. Azora Capital LP now owns 10,609,577 shares of the company’s stock valued at $105,990,000 after buying an additional 1,142,151 shares during the period. Victory Capital Management Inc. boosted its stake in shares of WisdomTree by 92.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,922,414 shares of the company’s stock worth $19,051,000 after buying an additional 923,994 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of WisdomTree in the second quarter worth $5,748,000. Finally, Acadian Asset Management LLC purchased a new stake in WisdomTree during the second quarter valued at $4,258,000. 78.64% of the stock is currently owned by institutional investors.

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.