Franklin Resources Inc. Invests $888,000 in WisdomTree, Inc. (NYSE:WT)

Franklin Resources Inc. purchased a new stake in shares of WisdomTree, Inc. (NYSE:WT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 87,839 shares of the company's stock, valued at approximately $888,000. Franklin Resources Inc. owned about 0.06% of WisdomTree at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CEO Jonathan L. Steinberg purchased 67,869 shares of WisdomTree stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $10.84 per share, for a total transaction of $735,699.96. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Peter M. Ziemba sold 100,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 948,386 shares of the company's stock, valued at $10,840,051.98. This represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.

WisdomTree Price Performance

Shares of WT traded down $0.17 on Monday, hitting $10.40. The company's stock had a trading volume of 798,953 shares, compared to its average volume of 1,340,250. The company has a market capitalization of $1.52 billion, a PE ratio of 35.86 and a beta of 1.46. WisdomTree, Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $12.45. The company has a 50 day moving average price of $11.09 and a 200 day moving average price of $10.43. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.88 and a quick ratio of 2.16.

WisdomTree Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, November 6th. WisdomTree's dividend payout ratio is currently 41.38%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WT shares. UBS Group raised their target price on shares of WisdomTree from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Northcoast Research lowered WisdomTree from a "strong-buy" rating to a "hold" rating in a research report on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.79.

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.