MarketWise (NASDAQ:MKTW) Insider Erik Mickels Sells 3,973 Shares

MarketWise, Inc. (NASDAQ:MKTW) insider Erik Mickels sold 3,973 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.14, for a total transaction of $76,043.22. Following the completion of the transaction, the insider owned 75,091 shares of the company’s stock, valued at $1,437,241.74. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MarketWise Trading Down 1.5%

NASDAQ:MKTW opened at $18.86 on Friday. The company has a 50-day moving average price of $17.31 and a 200-day moving average price of $16.28. The stock has a market cap of $294.71 million, a price-to-earnings ratio of 11.43 and a beta of 0.26. MarketWise, Inc. has a 12 month low of $13.49 and a 12 month high of $21.74.

MarketWise (NASDAQ:MKTW) last released its quarterly earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%.The company had revenue of $77.03 million during the quarter, compared to the consensus estimate of $80.74 million. Equities analysts forecast that MarketWise, Inc. will post 1.64 EPS for the current fiscal year.

MarketWise Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Friday, May 15th were given 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 dividend yield of 5.3%. The ex-dividend date was Friday, May 15th. MarketWise’s dividend payout ratio is presently 60.61%.

Institutional Trading of MarketWise

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of MarketWise by 300.5% in the first 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. purchased a new stake in shares of MarketWise during the second quarter valued at $28,000. Raymond James Financial Inc. bought a new stake in MarketWise in the 2nd quarter worth about $226,000. Vanguard Group Inc. increased its holdings in MarketWise by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock worth $1,382,000 after buying an additional 10,113 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in MarketWise in the 3rd quarter worth about $191,000. Institutional investors own 23.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MKTW shares. Wall Street Zen downgraded MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings raised shares of MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MarketWise has a consensus rating of “Hold” and an average price target of $20.00.

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.