MarketWise (NASDAQ:MKTW) Trading 3.8% Higher

MarketWise, Inc. (NASDAQ:MKTW)’s share price traded up 3.8% on Wednesday . The stock traded as high as $1.65 and last traded at $1.64. 15,153 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 118,914 shares. The stock had previously closed at $1.58.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their price objective on MarketWise from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, March 28th.

MarketWise Trading Up 2.5 %

The company has a market capitalization of $533.84 million, a price-to-earnings ratio of 31.80 and a beta of 0.53. The company has a fifty day moving average of $1.83 and a 200-day moving average of $2.24.

MarketWise Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Friday, March 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.47%. The ex-dividend date is Thursday, March 14th. MarketWise’s payout ratio is 80.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in shares of MarketWise by 30.2% during the 4th quarter. SG Americas Securities LLC now owns 18,499 shares of the newsletter publisher’s stock worth $51,000 after purchasing an additional 4,292 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of MarketWise by 39.7% during the 1st quarter. Jane Street Group LLC now owns 18,283 shares of the newsletter publisher’s stock worth $86,000 after purchasing an additional 5,194 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of MarketWise by 5.1% during the 1st quarter. Renaissance Technologies LLC now owns 123,300 shares of the newsletter publisher’s stock worth $228,000 after purchasing an additional 6,000 shares during the last quarter. Formidable Asset Management LLC boosted its holdings in shares of MarketWise by 1.5% during the 2nd quarter. Formidable Asset Management LLC now owns 474,822 shares of the newsletter publisher’s stock worth $950,000 after purchasing an additional 7,000 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of MarketWise by 9.4% during the 1st quarter. State Street Corp now owns 90,125 shares of the newsletter publisher’s stock worth $425,000 after purchasing an additional 7,725 shares during the last quarter. 23.04% of the stock is currently owned by institutional investors and hedge funds.

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.