Key Points
- MarketWise director Frank Porter Stansberry bought 41,375 shares on May 8 at an average price of $18.99, a transaction worth about $785,711. After the purchase, he owned 291,756 shares, boosting his stake by 16.52%.
- Stansberry has been actively buying shares recently, including 10,000 shares on May 11 and additional purchases in March, signaling continued insider confidence in the company.
- MarketWise recently raised its quarterly dividend to $0.25 per share from $0.20, which implies a 5.5% annualized yield. The company also reported a quarterly loss of $0.23 per share and revenue below analyst estimates in its latest earnings release.
MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) Director Frank Porter Stansberry purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $18.89 per share, with a total value of $188,900.00. Following the completion of the acquisition, the director owned 301,756 shares in the company, valued at $5,700,170.84. The trade was a 3.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Frank Porter Stansberry also recently made the following trade(s):
- On Friday, May 8th, Frank Porter Stansberry acquired 41,375 shares of MarketWise stock. The stock was bought at an average cost of $18.99 per share, with a total value of $785,711.25.
- On Friday, March 20th, Frank Porter Stansberry acquired 17,270 shares of MarketWise stock. The stock was bought at an average cost of $15.19 per share, with a total value of $262,331.30.
- On Thursday, March 19th, Frank Porter Stansberry acquired 23,103 shares of MarketWise stock. The stock was bought at an average cost of $14.28 per share, with a total value of $329,910.84.
MarketWise Price Performance
Shares of NASDAQ MKTW opened at $18.06 on Wednesday. The stock has a market capitalization of $290.04 million, a PE ratio of 10.95 and a beta of 0.25. The business has a fifty day moving average price of $16.69 and a two-hundred day moving average price of $16.01. MarketWise, Inc. has a fifty-two week low of $13.49 and a fifty-two week high of $21.74.
MarketWise (NASDAQ:MKTW - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share for the quarter. The company had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. On average, equities analysts expect that MarketWise, Inc. will post 2.92 EPS for the current year.
MarketWise Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.5%. This is a boost from MarketWise's previous quarterly dividend of $0.20. MarketWise's payout ratio is presently 60.61%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on MKTW. Wall Street Zen cut MarketWise from a "buy" rating to a "hold" rating in a report on Sunday. Weiss Ratings cut MarketWise from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.00.
View Our Latest Research Report on MarketWise
Institutional Investors Weigh In On MarketWise
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in MarketWise by 52.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher's stock worth $33,000 after acquiring an additional 757 shares during the last quarter. Russell Investments Group Ltd. grew its position in MarketWise by 60.7% during the 4th 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 last quarter. Renaissance Technologies LLC grew its position in MarketWise by 4.7% during the 4th 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 last quarter. State Street Corp grew its position in MarketWise by 5.2% during the 4th quarter. State Street Corp now owns 28,737 shares of the newsletter publisher's stock worth $432,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Barclays PLC grew its position in MarketWise by 7.0% during the 4th quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher's stock worth $2,293,000 after acquiring an additional 9,961 shares during the last quarter. Institutional investors own 23.04% of the company's stock.
MarketWise Company Profile
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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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