MarketWise (NASDAQ:MKTW) Director Purchases $785,711.25 in Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry acquired 41,375 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought 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 approximately $5,540,446.44. This trade represents a 16.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Frank Porter Stansberry also recently made the following trade(s):

• On Thursday, May 14th, Frank Porter Stansberry bought 20,000 shares of MarketWise stock. The stock was purchased at an average cost of $18.12 per share, for a total transaction of $362,400.00.
• On Monday, May 11th, Frank Porter Stansberry acquired 10,000 shares of MarketWise stock. The stock was purchased at an average cost of $18.89 per share, with a total value of $188,900.00.
• On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The shares were purchased at an average cost of $15.19 per share, for a total transaction of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry bought 23,103 shares of MarketWise stock. The stock was acquired at an average cost of $14.28 per share, with a total value of $329,910.84.

MarketWise Trading Down 5.2%

Shares of MKTW stock opened at $17.27 on Friday. MarketWise, Inc. has a 1-year low of $13.49 and a 1-year high of $21.74. The company has a market capitalization of $277.36 million, a price-to-earnings ratio of 10.47 and a beta of 0.25. The stock’s fifty day simple moving average is $16.85 and its 200-day simple moving average is $16.05.

MarketWise (NASDAQ:MKTW) last issued its earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share for the quarter. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. The business had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. On average, sell-side analysts predict that MarketWise, Inc. will post 2.92 EPS for the current year.

MarketWise Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Friday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 5.8%. MarketWise’s payout ratio is 60.61%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of MarketWise in the 2nd quarter valued at approximately $28,000. Wells Fargo & Company MN grew its holdings in MarketWise by 52.5% during the fourth 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 second quarter valued at approximately $226,000. Susquehanna International Group LLP bought a new position in shares of MarketWise in the third quarter valued at approximately $191,000. Finally, Renaissance Technologies LLC lifted 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 buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 23.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MKTW shares. Weiss Ratings cut MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Wall Street Zen lowered shares of MarketWise from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.00.

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.