MarketWise (NASDAQ:MKTW) Trading 0.4% Higher – What’s Next?

MarketWise, Inc. (NASDAQ:MKTW) shot up 0.4% on Tuesday . The stock traded as high as $20.61 and last traded at $20.49. 3,862 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 12,256 shares. The stock had previously closed at $20.40.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MKTW. Weiss Ratings upgraded MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Wall Street Zen cut shares of MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MarketWise has a consensus rating of “Hold” and an average target price of $20.00.

MarketWise Price Performance

The business’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $16.90. The stock has a market capitalization of $320.26 million, a PE ratio of 12.42 and a beta of 0.26.

MarketWise (NASDAQ:MKTW) last issued its earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%.The firm had revenue of $77.03 million during the quarter, compared to analysts’ expectations of $80.74 million. As a group, equities research analysts anticipate that MarketWise, Inc. will post 1.64 earnings per share for the current fiscal year.

MarketWise Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Friday, May 15th were issued a $0.25 dividend. This is a boost from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, May 15th. MarketWise’s dividend payout ratio is currently 60.61%.

Insider Activity

In related news, insider Erik Mickels sold 3,973 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $19.14, for a total value of $76,043.22. Following the sale, the insider owned 75,091 shares in the company, valued at $1,437,241.74. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frank Porter Stansberry purchased 41,375 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $18.99 per share, for a total transaction of $785,711.25. Following the acquisition, the director owned 291,756 shares in the company, valued at $5,540,446.44. This trade represents a 16.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 105,109 shares of company stock valued at $1,921,696. Company insiders own 29.95% of the company’s stock.

Hedge Funds Weigh In On MarketWise

A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in MarketWise by 52.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock valued at $33,000 after acquiring an additional 757 shares during the period. Russell Investments Group Ltd. increased its stake 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 acquiring an additional 773 shares during the period. Renaissance Technologies LLC increased its stake in shares of MarketWise by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock worth $299,000 after acquiring an additional 900 shares during the period. State Street Corp raised its holdings in shares of MarketWise by 5.2% during the fourth quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock worth $432,000 after purchasing an additional 1,414 shares during the last quarter. Finally, Barclays PLC lifted its position in MarketWise by 7.0% during 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 during the period. 23.04% of the stock is owned by hedge funds and other institutional investors.

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.