MarketWise (NASDAQ:MKTW) Director Frank Porter Stansberry Buys 10,000 Shares

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of $18.89 per share, with a total value of $188,900.00. Following the completion of the purchase, the director owned 301,756 shares of the company’s stock, valued at approximately $5,700,170.84. This represents a 3.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, May 8th, Frank Porter Stansberry purchased 41,375 shares of MarketWise stock. The stock was bought at an average price of $18.99 per share, with a total value of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry purchased 17,270 shares of MarketWise stock. The stock was bought at an average price 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 stock was bought at an average price of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Down 3.1%

MKTW stock opened at $18.06 on Wednesday. The business has a 50 day moving average price of $16.69 and a two-hundred day moving average price of $16.01. The company has a market cap of $290.04 million, a price-to-earnings ratio of 10.95 and a beta of 0.25. MarketWise, Inc. has a twelve month low of $13.49 and a twelve month high of $21.74.

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

MarketWise Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.5%. This is an increase from MarketWise’s previous quarterly dividend of $0.20. MarketWise’s dividend payout ratio is presently 60.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MKTW. Wall Street Zen downgraded MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings downgraded MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

Institutional Trading of MarketWise

Several hedge funds have recently added to or reduced their stakes in MKTW. AQR Capital Management LLC lifted its holdings in MarketWise by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after purchasing an additional 91,282 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in MarketWise during the 2nd quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new stake in MarketWise during the 2nd quarter worth approximately $226,000. MTM Investment Management LLC acquired a new stake in MarketWise during the 3rd quarter worth approximately $359,000. Finally, Vanguard Group Inc. lifted its holdings in MarketWise by 13.8% during the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock worth $1,382,000 after purchasing an additional 10,113 shares during the last quarter. 23.04% of the stock is owned by institutional investors and hedge funds.

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.