MarketWise (NASDAQ:MKTW) Director Frank Porter Stansberry Acquires 41,375 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry acquired 41,375 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $18.99 per share, with a total value of $785,711.25. Following the transaction, the director directly owned 291,756 shares of the company’s stock, valued at $5,540,446.44. This trade represents a 16.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, May 11th, Frank Porter Stansberry acquired 10,000 shares of MarketWise stock. The shares were purchased at an average cost of $18.89 per share, with a total value of $188,900.00.
• On Friday, March 20th, Frank Porter Stansberry acquired 17,270 shares of MarketWise stock. The shares were 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 acquired 23,103 shares of MarketWise stock. The shares were purchased at an average cost of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Down 3.1%

MKTW opened at $18.06 on Wednesday. MarketWise, Inc. has a twelve month low of $13.49 and a twelve month high of $21.74. The company has a 50-day simple moving average of $16.69 and a 200 day simple moving average of $16.01. The stock has a market capitalization of $290.04 million, a price-to-earnings ratio of 10.95 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. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%.The firm had revenue of $77.03 million for the quarter, compared to the consensus estimate of $80.74 million. Sell-side analysts anticipate that MarketWise, Inc. will post 2.92 EPS for the current fiscal year.

MarketWise Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Friday, May 15th will be given 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 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, May 15th. MarketWise’s dividend payout ratio (DPR) is currently 60.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on MKTW. Wall Street Zen cut shares of MarketWise from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings cut shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MarketWise has a consensus rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On MarketWise

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in MarketWise by 52.5% during 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. Russell Investments Group Ltd. increased its position in MarketWise by 60.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,047 shares of the newsletter publisher’s stock valued at $31,000 after purchasing an additional 773 shares during the period. Renaissance Technologies LLC increased its position in MarketWise by 4.7% during the 4th quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock valued at $299,000 after purchasing an additional 900 shares during the period. State Street Corp increased its position in MarketWise by 5.2% during the 4th quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock valued at $432,000 after purchasing an additional 1,414 shares during the period. Finally, Barclays PLC increased its position in MarketWise by 7.0% during the 4th quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock valued at $2,293,000 after purchasing an additional 9,961 shares during the period. 23.04% of the stock is currently owned by institutional investors and hedge funds.

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.