Key Points
- Director Frank Porter Stansberry bought 20,000 MarketWise shares on May 14 at an average price of $18.12, a $362,400 purchase that lifted his direct holdings to 331,756 shares.
- This was part of a broader buying streak by Stansberry, who also bought shares on May 11, May 8, March 20, and March 19, signaling continued insider confidence in the company.
- MarketWise recently raised its quarterly dividend to $0.25 per share from $0.20, even as the stock slipped 5.2% and analysts maintained a consensus Hold rating with a $20 price target.
MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) Director Frank Porter Stansberry acquired 20,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $18.12 per share, with a total value of $362,400.00. Following the purchase, the director directly owned 331,756 shares of the company's stock, valued at $6,011,418.72. This represents a 6.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Frank Porter Stansberry also recently made the following trade(s):
- On Monday, May 11th, Frank Porter Stansberry bought 10,000 shares of MarketWise stock. The shares were purchased at an average price of $18.89 per share, for a total transaction of $188,900.00.
- On Friday, May 8th, Frank Porter Stansberry bought 41,375 shares of MarketWise stock. The stock was purchased at an average cost of $18.99 per share, with a total value of $785,711.25.
- On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The stock was purchased at an average cost of $15.19 per share, with a total value of $262,331.30.
- On Thursday, March 19th, Frank Porter Stansberry bought 23,103 shares of MarketWise stock. The stock was purchased at an average cost of $14.28 per share, with a total value of $329,910.84.
MarketWise Stock Down 5.2%
MKTW opened at $17.27 on Friday. MarketWise, Inc. has a 52 week low of $13.49 and a 52 week high of $21.74. The business's 50 day moving average is $16.85 and its two-hundred day moving average is $16.05. The firm has a market cap of $277.36 million, a price-to-earnings ratio of 10.47 and a beta of 0.25.
MarketWise (NASDAQ:MKTW - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. Equities analysts expect that MarketWise, Inc. will post 2.92 EPS for the current fiscal year.
MarketWise Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.8%. This is a positive change from MarketWise's previous quarterly dividend of $0.20. The ex-dividend date is Friday, May 15th. MarketWise's payout ratio is currently 60.61%.
Institutional Trading of MarketWise
Several hedge funds have recently made changes to their positions in MKTW. Russell Investments Group Ltd. acquired a new stake in shares of MarketWise in the 2nd quarter worth $28,000. Wells Fargo & Company MN increased its stake in shares of MarketWise by 52.5% during the fourth 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 period. AQR Capital Management LLC raised its holdings in MarketWise by 300.5% during the first quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher's stock worth $60,000 after purchasing an additional 91,282 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in MarketWise in the third quarter valued at about $191,000. Finally, Raymond James Financial Inc. acquired a new stake in MarketWise in the second quarter valued at about $226,000. Institutional investors and hedge funds own 23.04% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on MKTW shares. Weiss Ratings downgraded MarketWise from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday. Wall Street Zen downgraded MarketWise from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.00.
Check Out Our Latest Analysis on MarketWise
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
