Frank Porter Stansberry Buys 3,623 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry purchased 3,623 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $16.50 per share, for a total transaction of $59,779.50. Following the completion of the purchase, the director directly owned 335,390 shares of the company’s stock, valued at approximately $5,533,935. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Frank Porter Stansberry also recently made the following trade(s):

• On Friday, May 15th, Frank Porter Stansberry acquired 11 shares of MarketWise stock. The stock was purchased at an average price of $16.71 per share, with a total value of $183.81.
• On Thursday, May 14th, Frank Porter Stansberry acquired 20,000 shares of MarketWise stock. The shares were purchased at an average cost of $18.12 per share, for a total transaction of $362,400.00.
• On Monday, May 11th, Frank Porter Stansberry acquired 10,000 shares of MarketWise stock. The shares were purchased at an average price of $18.89 per share, for a total transaction of $188,900.00.
• On Friday, May 8th, Frank Porter Stansberry bought 41,375 shares of MarketWise stock. The stock was purchased at an average price of $18.99 per share, with a total value of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The stock was purchased at an average cost of $15.19 per share, with a total value of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry purchased 23,103 shares of MarketWise stock. The shares were acquired at an average price of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Price Performance

MKTW opened at $17.46 on Thursday. The company has a market capitalization of $272.90 million, a P/E ratio of 10.58 and a beta of 0.25. The firm’s fifty day moving average price is $16.99 and its two-hundred day moving average price is $16.10. MarketWise, Inc. has a fifty-two week low of $13.49 and a fifty-two week high of $21.74.

MarketWise (NASDAQ:MKTW) last announced its quarterly earnings data on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. The business had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. On average, equities research analysts expect that MarketWise, Inc. will post 2.92 EPS for the current fiscal year.

MarketWise Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.25 per share. This is a positive change from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, May 15th. MarketWise’s dividend payout ratio is 60.61%.

Institutional Investors Weigh In On MarketWise

A number of hedge funds have recently made changes to their positions in MKTW. Renaissance Technologies LLC lifted its holdings in MarketWise by 36.6% during the 1st quarter. Renaissance Technologies LLC now owns 27,174 shares of the newsletter publisher’s stock valued at $509,000 after purchasing an additional 7,275 shares during the last quarter. Russell Investments Group Ltd. grew its stake in MarketWise by 60.7% during the fourth quarter. Russell Investments Group Ltd. now owns 2,047 shares of the newsletter publisher’s stock worth $31,000 after buying an additional 773 shares during the last quarter. Barclays PLC increased its holdings in shares of MarketWise by 7.0% during the fourth quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock worth $2,293,000 after buying an additional 9,961 shares in the last quarter. State Street Corp increased its holdings in shares of MarketWise by 5.2% during the fourth quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock worth $432,000 after buying an additional 1,414 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of MarketWise by 52.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock valued at $33,000 after acquiring an additional 757 shares during the last quarter. Institutional investors and hedge funds own 23.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings lowered MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen lowered MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MarketWise currently has an average rating of “Hold” and a consensus price target of $20.00.

MarketWise Company Profile

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.