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

Shares of WisdomTree, Inc. (NYSE:WT) were down 2.4% during trading on Wednesday . The company traded as low as $11.69 and last traded at $11.71. Approximately 165,536 shares traded 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.

Analysts Set New Price Targets

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

WisdomTree Stock Down 2.9 %

The company has a current ratio of 2.88, a quick ratio of 2.16 and a debt-to-equity ratio of 1.36. The company has a 50 day simple moving average of $10.55 and a two-hundred day simple moving average of $10.19. The firm has a market capitalization of $1.70 billion, a P/E ratio of 40.31 and a beta of 1.43.

WisdomTree Dividend Announcement

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

Insider Activity

In related news, CEO Jonathan L. Steinberg purchased 67,869 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $10.84 per share, for a total transaction of $735,699.96. Following the completion of the transaction, the chief executive officer now owns 9,240,707 shares in the company, valued at approximately $100,169,263.88. The trade was a 0.74 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter M. Ziemba sold 100,000 shares of the company’s 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 sale, the insider now owns 948,386 shares in the company, valued at approximately $10,840,051.98. This trade represents a 9.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On WisdomTree

A number of large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of WisdomTree by 21.3% during the third quarter. Victory Capital Management Inc. now owns 2,332,762 shares of the company’s stock valued at $23,304,000 after buying an additional 410,348 shares during the period. SG Americas Securities LLC lifted its position in shares of WisdomTree by 588.2% during the second quarter. SG Americas Securities LLC now owns 73,295 shares of the company’s stock worth $726,000 after purchasing an additional 62,644 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of WisdomTree by 180.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 115,289 shares of the company’s stock valued at $1,152,000 after purchasing an additional 74,173 shares during the period. Wakefield Asset Management LLLP bought a new position in shares of WisdomTree in the second quarter worth about $989,000. Finally, Janus Henderson Group PLC increased its stake in WisdomTree by 7.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,788,746 shares of the company’s stock worth $25,629,000 after buying an additional 194,369 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.