MarketWise (NASDAQ:MKTW) CFO Erik Mickels Sells 3,334 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) CFO Erik Mickels sold 3,334 shares of MarketWise stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $13.83, for a total value of $46,109.22. Following the completion of the sale, the chief financial officer owned 85,064 shares in the company, valued at approximately $1,176,435.12. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Erik Mickels also recently made the following trade(s):

• On Wednesday, March 18th, Erik Mickels sold 6,666 shares of MarketWise stock. The shares were sold at an average price of $14.10, for a total value of $93,990.60.
• On Wednesday, March 11th, Erik Mickels sold 6,666 shares of MarketWise stock. The stock was sold at an average price of $14.73, for a total value of $98,190.18.
• On Tuesday, March 10th, Erik Mickels sold 3,334 shares of MarketWise stock. The stock was sold at an average price of $15.20, for a total value of $50,676.80.

MarketWise Stock Up 4.4%

NASDAQ:MKTW opened at $15.45 on Friday. The firm’s fifty day simple moving average is $15.20 and its 200 day simple moving average is $15.68. The stock has a market cap of $248.14 million, a P/E ratio of 6.75 and a beta of 0.55. MarketWise, Inc. has a twelve month low of $9.07 and a twelve month high of $21.74.

MarketWise (NASDAQ:MKTW) last issued its quarterly earnings data on Friday, March 6th. The newsletter publisher reported $0.77 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.99. MarketWise had a net margin of 1.71% and a negative return on equity of 2.54%. The business had revenue of $83.39 million during the quarter, compared to analyst estimates of $70.60 million.

MarketWise Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, March 18th. MarketWise’s payout ratio is presently 43.67%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MKTW. Weiss Ratings reissued a “sell (d+)” rating on shares of MarketWise in a research report on Thursday, January 22nd. UBS Group restated an “outperform” rating on shares of MarketWise in a research report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MarketWise currently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Trading of MarketWise

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in MarketWise during the 2nd quarter valued at about $28,000. 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 worth $33,000 after buying an additional 757 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of MarketWise by 300.5% during the first quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock valued at $60,000 after buying an additional 91,282 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of MarketWise during the third quarter valued at approximately $191,000. Finally, Raymond James Financial Inc. bought a new stake in shares of MarketWise during the second quarter valued at approximately $226,000. 23.04% of the stock is owned by hedge funds and other institutional investors.

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.