Insider Buying: MarketWise (NASDAQ:MKTW) Director Buys 41,375 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry bought 41,375 shares of MarketWise stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $18.99 per share, for a total transaction of $785,711.25. Following the purchase, the director directly owned 291,756 shares in the company, valued at approximately $5,540,446.44. The trade was a 16.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, May 11th, Frank Porter Stansberry purchased 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, March 20th, Frank Porter Stansberry purchased 17,270 shares of MarketWise stock. The shares were acquired 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 acquired at an average price of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Stock Down 3.1%

MKTW stock traded down $0.58 during midday trading on Tuesday, reaching $18.06. The company’s stock had a trading volume of 25,097 shares, compared to its average volume of 20,797. The business’s 50-day simple moving average is $16.61 and its 200-day simple moving average is $15.99. MarketWise, Inc. has a 52 week low of $13.49 and a 52 week high of $21.74. The stock has a market cap of $290.04 million, a PE ratio of 10.95 and a beta of 0.25.

MarketWise (NASDAQ:MKTW) last posted its quarterly 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 1.87%. The company had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. As a group, equities analysts forecast that MarketWise, Inc. will post 2.92 earnings per share for the current fiscal year.

MarketWise Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, May 15th will be paid a $0.25 dividend. 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 annualized dividend and a yield of 5.5%. MarketWise’s payout ratio is currently 60.61%.

Wall Street Analysts Forecast Growth

MKTW has been the subject of several analyst reports. Weiss Ratings lowered MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Wall Street Zen lowered shares of MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, MarketWise currently has an average rating of “Hold” and an average price target of $20.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of MarketWise by 300.5% in the first quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after acquiring an additional 91,282 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of MarketWise in the 2nd quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new position in shares of MarketWise in the 2nd quarter valued at approximately $226,000. MTM Investment Management LLC bought a new stake in MarketWise during the 3rd quarter worth approximately $359,000. Finally, Vanguard Group Inc. raised its holdings in MarketWise by 13.8% during the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock worth $1,382,000 after buying an additional 10,113 shares during the period. 23.04% of the stock is currently owned by institutional investors.

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.