MarketWise (NASDAQ:MKTW) Announces Quarterly Earnings Results

MarketWise (NASDAQ:MKTW) issued its quarterly earnings data on Thursday. The newsletter publisher reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $1.90, FiscalAI reports. The firm had revenue of $81.27 million for the quarter, compared to analyst estimates of $69.22 million. MarketWise had a negative return on equity of 2.66% and a net margin of 1.69%.

MarketWise Price Performance

NASDAQ MKTW traded up $0.32 during mid-day trading on Friday, reaching $17.11. The stock had a trading volume of 12,155 shares, compared to its average volume of 15,267. The stock has a market cap of $280.09 million, a PE ratio of 6.24 and a beta of 0.52. MarketWise has a 1 year low of $9.07 and a 1 year high of $21.74. The company has a fifty day moving average price of $16.18 and a 200 day moving average price of $17.11.

MarketWise Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Friday, November 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.7%. MarketWise’s dividend payout ratio (DPR) is 29.20%.

Analyst Ratings Changes

MKTW has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of MarketWise in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating and set a $20.00 price target (up previously from $19.00) on shares of MarketWise in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MarketWise has an average rating of “Reduce” and an average target price of $20.00.

Institutional Investors Weigh In On MarketWise

Several institutional investors have recently modified their holdings of MKTW. Vanguard Group Inc. raised its position in MarketWise by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock worth $1,382,000 after buying an additional 10,113 shares during the last quarter. MTM Investment Management LLC purchased a new stake in shares of MarketWise during the 3rd quarter valued at about $359,000. Raymond James Financial Inc. bought a new stake in shares of MarketWise in the second quarter worth approximately $226,000. Russell Investments Group Ltd. purchased a new position in shares of MarketWise during the second quarter valued at approximately $28,000. Finally, Militia Capital Partners LP purchased a new position in shares of MarketWise during the first quarter valued at approximately $35,000. 23.04% of the stock is owned by hedge funds and other institutional investors.

About MarketWise

MarketWise, Inc operates a content and technology multi-brand platform for self-directed investors in the United States and Internationally. Its platform includes subscription businesses that provides financial research, software, education, and tools to navigate the financial markets. The company offers various investment strategies, such as value investing, income, growth, commodities, cryptocurrencies, venture, crowdfunded investing, biotechnology, mutual funds, options, and trading; investment research product portfolio through a range of media, including desktops, laptops, tablets, and mobile; and financial newsletters.