WisdomTree (NYSE:WT) Shares Gap Up - Here's Why

Shares of WisdomTree, Inc. (NYSE:WT - Get Free Report) gapped up prior to trading on Friday . 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Northcoast Research cut shares of WisdomTree from a "strong-buy" rating to a "hold" rating in a report on Sunday, September 15th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $12.00 price objective (up from $11.00) on shares of WisdomTree in a research note on Monday, July 29th. Northland Securities increased their target price on shares of WisdomTree from $12.00 to $13.50 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Craig Hallum boosted their price target on WisdomTree from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Finally, Oppenheimer increased their price objective on WisdomTree from $12.00 to $13.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.25.

WisdomTree Stock Performance

The stock's 50-day moving average is $9.95 and its 200 day moving average is $9.85. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 15.69 and a beta of 1.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.01 and a quick ratio of 2.18.

WisdomTree (NYSE:WT - Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. WisdomTree had a return on equity of 19.22% and a net margin of 19.72%. The business had revenue of $107.03 million during the quarter, compared to analysts' expectations of $103.75 million. As a group, analysts predict that WisdomTree, Inc. will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of WisdomTree

Several hedge funds and other institutional investors have recently made changes to their positions in WT. Bank of New York Mellon Corp increased its holdings in WisdomTree by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 3,042,815 shares of the company's stock valued at $30,154,000 after buying an additional 25,759 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of 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 acquiring an additional 194,369 shares during the period. Victory Capital Management Inc. increased its stake in WisdomTree by 92.5% in 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. Marshall Wace LLP raised its holdings in WisdomTree by 82.3% during the second quarter. Marshall Wace LLP now owns 772,543 shares of the company's stock worth $7,656,000 after purchasing an additional 348,850 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in WisdomTree by 51.6% during the second quarter. AQR Capital Management LLC now owns 720,132 shares of the company's stock worth $7,137,000 after purchasing an additional 245,041 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

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.