Key Points
- Director Frank Porter Stansberry bought 3,623 shares of MarketWise on May 18 at an average price of $16.50, bringing his total holdings to 335,390 shares worth about $5.53 million. The purchase was disclosed in an SEC filing and marked a 1.09% increase in his position.
- MarketWise raised its quarterly dividend to $0.25 per share from $0.20, implying a $1.00 annualized dividend yield of 6.1%. The company’s payout ratio is currently 60.61%.
- The stock was trading lower and analysts are cautious, with shares down 1.4% to $16.37. Wall Street’s consensus rating is “Hold,” with an average price target of $20.00.
MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) Director Frank Porter Stansberry acquired 3,623 shares of the firm's stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $16.50 per share, with a total value of $59,779.50. Following the completion of the purchase, the director owned 335,390 shares in the company, valued at approximately $5,533,935. This trade represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Frank Porter Stansberry also recently made the following trade(s):
- On Friday, May 15th, Frank Porter Stansberry acquired 11 shares of MarketWise stock. The shares were acquired at an average price of $16.71 per share, with a total value of $183.81.
- On Thursday, May 14th, Frank Porter Stansberry acquired 20,000 shares of MarketWise stock. The shares were acquired at an average price of $18.12 per share, with a total value of $362,400.00.
- On Monday, May 11th, Frank Porter Stansberry acquired 10,000 shares of MarketWise stock. The shares were acquired at an average price of $18.89 per share, with a total value of $188,900.00.
- On Friday, May 8th, Frank Porter Stansberry acquired 41,375 shares of MarketWise stock. The shares were acquired at an average price 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 shares were acquired at an average price 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 shares were acquired at an average price of $14.28 per share, with a total value of $329,910.84.
MarketWise Trading Down 1.4%
Shares of NASDAQ MKTW opened at $16.37 on Wednesday. MarketWise, Inc. has a 12 month low of $13.49 and a 12 month high of $21.74. The company has a 50 day simple moving average of $16.96 and a two-hundred day simple moving average of $16.10. The stock has a market cap of $255.86 million, a price-to-earnings ratio of 9.92 and a beta of 0.25.
MarketWise (NASDAQ:MKTW - Get Free Report) last posted its earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share for the quarter. The firm had revenue of $77.03 million for the quarter, compared to analysts' expectations of $80.74 million. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. Analysts forecast that MarketWise, Inc. will post 2.92 EPS for the current year.
MarketWise Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.25 per share. This is a positive change from MarketWise's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 6.1%. MarketWise's payout ratio is presently 60.61%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on MKTW. Wall Street Zen lowered shares of MarketWise from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. Weiss Ratings lowered shares of MarketWise from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.00.
View Our Latest Report on MarketWise
Institutional Investors Weigh In On MarketWise
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in MarketWise in the 2nd quarter worth $28,000. Wells Fargo & Company MN increased its holdings in MarketWise by 52.5% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in MarketWise in the 2nd quarter worth $226,000. Susquehanna International Group LLP purchased a new stake in MarketWise in the 3rd quarter worth $191,000. Finally, Renaissance Technologies LLC increased its holdings in MarketWise by 4.7% in 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 in the last quarter. Hedge funds and other institutional investors 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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