Frank Porter Stansberry Purchases 20,100 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry acquired 20,100 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $17.21 per share, for a total transaction of $345,921.00. Following the transaction, the director owned 355,490 shares of the company’s stock, valued at $6,117,982.90. This represents a 5.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, May 18th, Frank Porter Stansberry acquired 3,623 shares of MarketWise stock. The shares were bought at an average cost of $16.50 per share, for a total transaction of $59,779.50.
• On Friday, May 15th, Frank Porter Stansberry acquired 11 shares of MarketWise stock. The shares were bought at an average cost of $16.71 per share, for a total transaction of $183.81.
• On Thursday, May 14th, Frank Porter Stansberry acquired 20,000 shares of MarketWise stock. The shares were bought 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 bought at an average cost of $18.89 per share, for a total transaction of $188,900.00.
• On Friday, May 8th, Frank Porter Stansberry purchased 41,375 shares of MarketWise stock. The stock was acquired 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 acquired 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 acquired at an average price of $14.28 per share, with a total value of $329,910.84.

MarketWise Price Performance

MarketWise stock traded up $0.31 during midday trading on Friday, reaching $17.99. The company’s stock had a trading volume of 20,879 shares, compared to its average volume of 31,548. The stock’s 50-day simple moving average is $17.11 and its 200-day simple moving average is $16.12. MarketWise, Inc. has a 52-week low of $13.49 and a 52-week high of $21.74. The stock has a market capitalization of $281.18 million, a P/E ratio of 10.90 and a beta of 0.25.

MarketWise (NASDAQ:MKTW) last released its quarterly earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) 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 analysts’ expectations of $80.74 million. As a group, equities research analysts expect that MarketWise, Inc. will post 2.92 earnings per share 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.6%. This is a boost from MarketWise’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, May 15th. MarketWise’s dividend payout ratio (DPR) is 60.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised 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 worth $509,000 after purchasing an additional 7,275 shares during the last quarter. Russell Investments Group Ltd. raised 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 worth $31,000 after purchasing an additional 773 shares during the last quarter. Barclays PLC raised 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 worth $2,293,000 after purchasing an additional 9,961 shares during the last quarter. State Street Corp raised 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 worth $432,000 after purchasing an additional 1,414 shares during 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 worth $33,000 after purchasing an additional 757 shares during the last quarter. 23.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKTW has been the subject of a number of research analyst reports. Wall Street Zen cut MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings cut MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.