Scott Daniel Forney Sells 711 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) General Counsel Scott Daniel Forney sold 711 shares of MarketWise stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total value of $13,608.54. Following the transaction, the general counsel owned 21,459 shares in the company, valued at $410,725.26. This represents a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MarketWise Price Performance

MKTW traded down $0.28 on Thursday, reaching $18.86. 16,125 shares of the company traded hands, compared to its average volume of 16,588. The company has a market cap of $294.78 million, a price-to-earnings ratio of 11.43 and a beta of 0.26. The stock’s 50 day moving average price is $17.31 and its 200-day moving average price is $16.28. MarketWise, Inc. has a 52-week low of $13.49 and a 52-week high of $21.74.

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 firm had revenue of $77.03 million for the quarter, compared to analyst estimates of $80.74 million. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. As a group, equities research analysts forecast that MarketWise, Inc. will post 1.64 earnings per share for the current fiscal year.

MarketWise Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, May 15th were issued a $0.25 dividend. This is an increase from MarketWise’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.3%. MarketWise’s payout ratio is 60.61%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On MarketWise

Several hedge funds and other institutional investors have recently made changes to their positions in MKTW. Wells Fargo & Company MN grew its position 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 worth $33,000 after buying an additional 757 shares during the period. Russell Investments Group Ltd. lifted its position 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 in the last quarter. Renaissance Technologies LLC boosted its stake 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 last quarter. State Street Corp increased its position 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 valued at $432,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Barclays PLC grew its stake in MarketWise by 7.0% in the fourth quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock valued at $2,293,000 after purchasing an additional 9,961 shares in the last quarter. 23.04% of the stock is owned by institutional investors and hedge funds.

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.