Key Points
- MarketWise CFO Erik Mickels sold 6,000 shares on March 23 at $14.70 (worth $88,200) and, across multiple March transactions, disposed of a total of 26,000 shares for roughly $377,167.
- Following the March 23 sale Mickels still directly owns 79,064 shares (valued at about $1.16 million), and the recent sales represent a 7.05% reduction in his ownership stake.
- MarketWise shares jumped 9.4% to open at $17.74; the company reported quarterly EPS of $0.77 and revenue of $83.39M (both ahead of estimates) and declared a $0.20 quarterly dividend (4.5% yield, annualized $0.80).
MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) CFO Erik Mickels sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.70, for a total value of $88,200.00. Following the completion of the transaction, the chief financial officer directly owned 79,064 shares in the company, valued at $1,162,240.80. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Erik Mickels also recently made the following trade(s):
- On Thursday, March 19th, Erik Mickels sold 3,334 shares of MarketWise stock. The stock was sold at an average price of $13.83, for a total value of $46,109.22.
- On Wednesday, March 18th, Erik Mickels sold 6,666 shares of MarketWise stock. The shares were sold at an average price of $14.10, for a total value of $93,990.60.
- On Wednesday, March 11th, Erik Mickels sold 6,666 shares of MarketWise stock. The shares were sold at an average price of $14.73, for a total transaction of $98,190.18.
- On Tuesday, March 10th, Erik Mickels sold 3,334 shares of MarketWise stock. The shares were sold at an average price of $15.20, for a total transaction of $50,676.80.
MarketWise Trading Up 9.4%
Shares of MarketWise stock opened at $17.74 on Thursday. The firm has a fifty day simple moving average of $15.22 and a 200-day simple moving average of $15.63. The stock has a market capitalization of $284.90 million, a price-to-earnings ratio of 7.75 and a beta of 0.55. MarketWise, Inc. has a 1-year low of $9.07 and a 1-year high of $21.74.
MarketWise (NASDAQ:MKTW - Get Free Report) last posted its earnings results on Friday, March 6th. The newsletter publisher reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.99. The business had revenue of $83.39 million for the quarter, compared to analyst estimates of $70.60 million. MarketWise had a net margin of 1.71% and a negative return on equity of 2.54%.
MarketWise Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, March 18th. MarketWise's dividend payout ratio is 43.67%.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of MarketWise in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MarketWise has an average rating of "Hold" and an average price target of $20.00.
View Our Latest Stock Analysis on MKTW
Institutional Investors Weigh In On MarketWise
Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of MarketWise in the second quarter worth $28,000. Wells Fargo & Company MN raised 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 purchasing an additional 757 shares during the last quarter. AQR Capital Management LLC raised its stake in MarketWise by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher's stock valued at $60,000 after purchasing an additional 91,282 shares during the last quarter. Susquehanna International Group LLP bought a new stake in MarketWise in the 3rd quarter valued at $191,000. Finally, Raymond James Financial Inc. bought a new stake in MarketWise in the 2nd quarter valued at $226,000. Institutional investors and hedge funds own 23.04% of the company's stock.
About MarketWise
(
Get Free Report)
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.
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