MarketWise (NASDAQ:MKTW) Posts Earnings Results

MarketWise (NASDAQ:MKTW) issued its earnings results on Friday. The newsletter publisher reported $0.77 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.99, Zacks reports. MarketWise had a net margin of 1.70% and a negative return on equity of 2.62%. The company had revenue of $83.39 million for the quarter, compared to the consensus estimate of $70.60 million.

MarketWise Stock Performance

NASDAQ MKTW opened at $14.84 on Friday. The stock has a market capitalization of $237.89 million, a P/E ratio of 6.48 and a beta of 0.55. MarketWise has a 52 week low of $9.07 and a 52 week high of $21.74. The stock has a fifty day moving average of $15.25 and a 200-day moving average of $15.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MKTW shares. UBS Group reiterated an “outperform” rating on shares of MarketWise in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MarketWise in a research note on Thursday, January 22nd. One 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, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On MarketWise

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in MarketWise in the second quarter worth about $28,000. Wells Fargo & Company MN boosted its stake in shares of MarketWise by 52.5% in 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. Raymond James Financial Inc. bought a new position in shares of MarketWise in the 2nd quarter valued at about $226,000. Susquehanna International Group LLP acquired a new stake in shares of MarketWise during the 3rd quarter worth approximately $191,000. Finally, Renaissance Technologies LLC grew its position in shares of MarketWise by 4.7% during the 4th quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock worth $299,000 after buying an additional 900 shares during the period. Institutional investors own 23.04% of the company’s stock.

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.