MarketWise (NASDAQ:MKTW) Trading Up 1% – Here’s Why

MarketWise, Inc. (NASDAQ:MKTW) rose 1% during trading on Friday . The company traded as high as $18.32 and last traded at $18.00. 3,537 shares changed hands during trading, a decline of 75% from the average session volume of 14,026 shares. The stock had previously closed at $17.82.

Analysts Set New Price Targets

MKTW has been the topic of several research analyst reports. Wall Street Zen downgraded MarketWise from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings raised shares of MarketWise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, MarketWise has a consensus rating of “Moderate Buy”.

MarketWise Trading Up 1.0%

The stock has a market capitalization of $283.86 million, a price-to-earnings ratio of 20.45 and a beta of 0.20. The stock has a fifty day moving average of $19.23 and a two-hundred day moving average of $17.43.

MarketWise (NASDAQ:MKTW) last released its quarterly earnings results on Thursday, August 6th. The newsletter publisher reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.89). The business had revenue of $75.81 million during the quarter, compared to the consensus estimate of $78.37 million. MarketWise had a net margin of 0.70% and a negative return on equity of 0.96%. Equities analysts expect that MarketWise, Inc. will post 0.67 earnings per share for the current year.

MarketWise Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, August 19th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, August 19th. MarketWise’s dividend payout ratio (DPR) is presently 113.64%.

Insider Activity at MarketWise

In related news, insider Erik Mickels sold 3,973 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total transaction of $76,043.22. Following the completion of the sale, the insider directly owned 75,091 shares of the company’s stock, valued at $1,437,241.74. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 29.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MarketWise

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of MarketWise in the 2nd quarter valued at about $28,000. Wells Fargo & Company MN raised its stake in shares of MarketWise by 52.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock valued at $33,000 after purchasing an additional 757 shares during the period. AQR Capital Management LLC raised its position in MarketWise by 300.5% in the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock valued at $60,000 after buying an additional 91,282 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of MarketWise in the third quarter valued at approximately $191,000. Finally, Raymond James Financial Inc. acquired a new stake in MarketWise in the 2nd quarter valued at $226,000. Institutional investors own 23.04% of the company’s stock.

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.