WisdomTree (NYSE:WT) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

WisdomTree, Inc. (NYSE:WT)’s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $19.14 and traded as low as $18.70. WisdomTree shares last traded at $19.0460, with a volume of 4,244,853 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Craig Hallum boosted their price target on WisdomTree from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Wall Street Zen downgraded shares of WisdomTree from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Zacks Research lowered shares of WisdomTree from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Northland Securities lifted their target price on shares of WisdomTree from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Finally, Morgan Stanley lowered their target price on shares of WisdomTree from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.72.

WisdomTree Trading Down 4.9%

The stock has a 50-day simple moving average of $22.77 and a 200 day simple moving average of $19.14. The company has a current ratio of 3.54, a quick ratio of 3.20 and a debt-to-equity ratio of 2.38. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 26.83 and a beta of 1.18.

WisdomTree (NYSE:WT) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $179.38 million for the quarter, compared to the consensus estimate of $180.68 million. WisdomTree had a return on equity of 40.93% and a net margin of 16.64%. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. As a group, equities research analysts predict that WisdomTree, Inc. will post 1.19 EPS for the current fiscal year.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. WisdomTree’s payout ratio is 16.90%.

Insider Buying and Selling

In related news, COO R. Jarrett Lilien sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $24.56, for a total value of $736,800.00. Following the sale, the chief operating officer owned 1,080,245 shares in the company, valued at $26,530,817.20. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WisdomTree

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of WisdomTree in the 2nd quarter valued at $326,513,000. Azora Capital LP acquired a new stake in shares of WisdomTree in the second quarter worth $104,698,000. Arrowstreet Capital Limited Partnership increased its stake in shares of WisdomTree by 41.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,134,430 shares of the company’s stock worth $60,197,000 after acquiring an additional 1,205,097 shares during the period. Bank of America Corp DE raised its holdings in shares of WisdomTree by 556.4% during the first quarter. Bank of America Corp DE now owns 2,327,389 shares of the company’s stock worth $33,887,000 after purchasing an additional 1,972,847 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of WisdomTree by 101.8% during the first quarter. Principal Financial Group Inc. now owns 2,009,556 shares of the company’s stock worth $29,259,000 after purchasing an additional 1,013,658 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

About WisdomTree

WisdomTree, Inc is a financial services company that sponsors and manages exchange-traded funds (ETFs) and exchange-traded products. Its offerings provide access to equities, fixed income, currencies, commodities, alternatives and other asset classes through rules-based investment strategies designed for individual and institutional investors.

The company also provides model portfolios, separately managed accounts and other investment solutions for financial professionals. In addition, WisdomTree has developed products and capabilities related to digital assets and blockchain-enabled financial services, subject to applicable regulatory requirements.

Founded in 1985 and formerly known as WisdomTree Investments, the company launched its first ETFs in 2006 and became known for dividend-focused and fundamentally weighted strategies.