Insider Buying: MarketWise (NASDAQ:MKTW) Director Purchases $178,800.00 in Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $17.88 per share, with a total value of $178,800.00. Following the completion of the transaction, the director owned 365,490 shares of the company’s stock, valued at $6,534,961.20. This trade represents a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, May 20th, Frank Porter Stansberry acquired 20,100 shares of MarketWise stock. The shares were purchased at an average price of $17.21 per share, with a total value of $345,921.00.
• On Monday, May 18th, Frank Porter Stansberry acquired 3,623 shares of MarketWise stock. The shares were purchased at an average price of $16.50 per share, with a total value of $59,779.50.
• On Friday, May 15th, Frank Porter Stansberry acquired 11 shares of MarketWise stock. The shares were 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 price of $18.12 per share, with a total value 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, with a total value of $188,900.00.
• On Friday, May 8th, Frank Porter Stansberry acquired 41,375 shares of MarketWise stock. The shares were 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 acquired 17,270 shares of MarketWise stock. The shares were purchased at an average price of $15.19 per share, with a total value of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry acquired 23,103 shares of MarketWise stock. The shares were purchased at an average price of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Down 1.6%

MKTW opened at $17.29 on Friday. MarketWise, Inc. has a twelve month low of $13.49 and a twelve month high of $21.74. The company has a fifty day moving average of $17.36 and a 200-day moving average of $16.14. The stock has a market cap of $270.24 million, a PE ratio of 10.48 and a beta of 0.25.

MarketWise (NASDAQ:MKTW) last posted its quarterly earnings data on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share for the quarter. The firm had revenue of $77.03 million for the quarter, compared to analyst estimates of $80.74 million. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%. Sell-side analysts anticipate that MarketWise, Inc. will post 1.64 EPS for the current fiscal year.

MarketWise Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Friday, May 15th will be paid a dividend of $0.25 per share. This is a boost from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, May 15th. MarketWise’s payout ratio is currently 60.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in shares of MarketWise by 36.6% in the first quarter. Renaissance Technologies LLC now owns 27,174 shares of the newsletter publisher’s stock valued at $509,000 after buying an additional 7,275 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of MarketWise by 60.7% in the fourth quarter. Russell Investments Group Ltd. now owns 2,047 shares of the newsletter publisher’s stock valued at $31,000 after buying an additional 773 shares in the last quarter. Barclays PLC lifted its stake in shares of MarketWise by 7.0% in the fourth quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock valued at $2,293,000 after buying an additional 9,961 shares in the last quarter. State Street Corp lifted its stake in shares of MarketWise by 5.2% in the fourth quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock valued at $432,000 after buying an additional 1,414 shares in the last quarter. Finally, Wells Fargo & Company MN lifted 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 buying an additional 757 shares in the last quarter. 23.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MKTW. Weiss Ratings lowered shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of 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 issued a Sell rating to the company’s stock. According to MarketBeat, MarketWise presently has a consensus rating of “Hold” and an average target price of $20.00.

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.