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

WisdomTree, Inc. (NYSE:WT)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. 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.

The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.80 million. WisdomTree had a return on equity of 19.22% and a net margin of 19.72%.

WisdomTree Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 6th. WisdomTree’s payout ratio is currently 24.49%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WT shares. UBS Group increased their target price on shares of WisdomTree from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (up from $11.00) on shares of WisdomTree in a research report on Monday, July 29th. Northland Securities boosted their target price on WisdomTree from $12.00 to $13.50 and gave the company an “outperform” rating in a report on Monday, July 29th. Northcoast Research downgraded WisdomTree from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 15th. Finally, Oppenheimer lifted their price objective on shares of WisdomTree from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.25.

Institutional Trading of WisdomTree

A number of institutional investors have recently modified their holdings of WT. Principal Financial Group Inc. increased its holdings in shares of WisdomTree by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 579,193 shares of the company’s stock valued at $5,323,000 after purchasing an additional 1,542 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of WisdomTree by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 96,638 shares of the company’s stock valued at $888,000 after acquiring an additional 1,247 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of WisdomTree during the 1st quarter worth approximately $198,000. ClariVest Asset Management LLC acquired a new stake in shares of WisdomTree in the 1st quarter worth approximately $3,840,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in WisdomTree in the 1st quarter valued at approximately $118,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

WisdomTree Stock Performance

The company has a quick ratio of 2.18, a current ratio of 3.01 and a debt-to-equity ratio of 0.62. 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 firm has a fifty day moving average of $9.96 and a 200-day moving average of $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.