MarketWise, Inc. (NASDAQ:MKTW) Sees Significant Drop in Short Interest

MarketWise, Inc. (NASDAQ:MKTW) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 18,525 shares, a drop of 22.6% from the December 15th total of 23,939 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 17,604 shares, the short-interest ratio is currently 1.1 days. Based on an average daily volume of 17,604 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the company’s shares are short sold.

MarketWise Trading Up 2.3%

Shares of MKTW traded up $0.37 during trading hours on Friday, reaching $16.18. 11,705 shares of the company traded hands, compared to its average volume of 12,405. The stock’s fifty day moving average price is $15.74 and its 200 day moving average price is $16.83. The firm has a market cap of $259.35 million, a price-to-earnings ratio of 6.42 and a beta of 0.52. MarketWise has a 12-month low of $9.07 and a 12-month high of $21.74.

MarketWise (NASDAQ:MKTW) last posted its quarterly earnings results on Thursday, November 6th. The newsletter publisher reported $0.58 EPS for the quarter, topping the consensus estimate of ($1.32) by $1.90. The company had revenue of $81.27 million for the quarter, compared to the consensus estimate of $69.22 million. MarketWise had a net margin of 1.70% and a negative return on equity of 2.62%.

MarketWise Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Friday, November 14th were issued a $0.20 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.9%. MarketWise’s payout ratio is presently 31.75%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MKTW. AQR Capital Management LLC lifted its holdings 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 buying an additional 91,282 shares during the period. MTM Investment Management LLC bought a new stake in shares of MarketWise in the third quarter valued at about $359,000. Susquehanna International Group LLP purchased a new stake in MarketWise in the third quarter worth about $191,000. Raymond James Financial Inc. purchased a new stake in MarketWise in the second quarter worth about $226,000. Finally, Vanguard Group Inc. increased its position in MarketWise by 13.8% during the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock valued at $1,382,000 after purchasing an additional 10,113 shares during the period. 23.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MKTW. UBS Group restated an “outperform” rating on shares of MarketWise in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketWise in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.00.

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.