MarketWise (NASDAQ:MKTW) Trading 0.4% Higher – Here’s Why

MarketWise, Inc. (NASDAQ:MKTW) shot up 0.4% on Tuesday . The company traded as high as $20.61 and last traded at $20.49. Approximately 3,862 shares traded hands during trading, a decline of 68% from the average session volume of 12,256 shares. The stock had previously closed at $20.40.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded MarketWise from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings upgraded MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

MarketWise Price Performance

The company has a market cap of $320.26 million, a PE ratio of 12.42 and a beta of 0.26. The business has a fifty day simple moving average of $18.19 and a two-hundred day simple moving average of $16.90.

MarketWise (NASDAQ:MKTW) last announced its quarterly earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. The company had revenue of $77.03 million during the quarter, compared to analysts’ expectations 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 predict that MarketWise, Inc. will post 1.64 EPS for the current year.

MarketWise Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.9%. This is a boost from MarketWise’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, May 15th. MarketWise’s payout ratio is presently 60.61%.

Insider Transactions at MarketWise

In other MarketWise news, insider Erik Mickels sold 3,973 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total value of $76,043.22. Following the completion of the transaction, the insider directly owned 75,091 shares in the company, valued at approximately $1,437,241.74. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frank Porter Stansberry purchased 41,375 shares of the stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $18.99 per share, for a total transaction of $785,711.25. Following the completion of the acquisition, the director directly owned 291,756 shares in the company, valued at approximately $5,540,446.44. This represents a 16.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 105,109 shares of company stock valued at $1,921,696 over the last quarter. 29.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MarketWise

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in MarketWise in the second quarter valued at approximately $28,000. Wells Fargo & Company MN lifted its holdings in shares of 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 last quarter. AQR Capital Management LLC boosted its position in shares of MarketWise by 300.5% in 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 in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of MarketWise in the 3rd quarter worth $191,000. Finally, Raymond James Financial Inc. purchased a new position in MarketWise during the 2nd quarter worth $226,000. Hedge funds and other institutional investors own 23.04% of the company’s stock.

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.