MarketWise (NASDAQ:MKTW) Director Frank Porter Stansberry Purchases 3,623 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry bought 3,623 shares of the business’s stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $16.50 per share, for a total transaction of $59,779.50. Following the transaction, the director directly 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 legal filing with the SEC, which is available through the SEC website.

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

• On Friday, May 15th, Frank Porter Stansberry bought 11 shares of MarketWise stock. The shares were acquired at an average cost of $16.71 per share, for a total transaction of $183.81.
• On Thursday, May 14th, Frank Porter Stansberry bought 20,000 shares of MarketWise stock. The shares were acquired at an average cost of $18.12 per share, for a total transaction of $362,400.00.
• On Monday, May 11th, Frank Porter Stansberry bought 10,000 shares of MarketWise stock. The shares were acquired at an average cost 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 shares were acquired at an average cost of $18.99 per share, for a total transaction of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The shares were acquired at an average cost of $15.19 per share, for a total transaction of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry bought 23,103 shares of MarketWise stock. The shares were acquired at an average cost of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Stock Down 1.4%

Shares of MarketWise stock opened at $16.37 on Wednesday. The firm’s 50 day moving average price is $16.96 and its 200-day moving average price is $16.10. MarketWise, Inc. has a 52-week low of $13.49 and a 52-week high of $21.74. The company has a market cap of $255.86 million, a P/E ratio of 9.92 and a beta of 0.25.

MarketWise (NASDAQ:MKTW) last issued its quarterly earnings data on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%.The firm had revenue of $77.03 million during the quarter, compared to analysts’ expectations of $80.74 million. As a group, equities research analysts forecast that MarketWise, Inc. will post 2.92 EPS for the current fiscal year.

MarketWise Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Friday, May 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from MarketWise’s previous quarterly dividend of $0.20. MarketWise’s payout ratio is presently 60.61%.

Institutional Trading of MarketWise

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in MarketWise in the 2nd quarter worth approximately $28,000. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 757 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in MarketWise during the 2nd quarter valued at approximately $226,000. Susquehanna International Group LLP acquired a new stake in MarketWise during the 3rd quarter valued at approximately $191,000. Finally, Renaissance Technologies LLC lifted its stake in MarketWise by 4.7% during the 4th quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock valued at $299,000 after acquiring an additional 900 shares during the period. 23.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MKTW. Weiss Ratings downgraded shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of MarketWise from a “buy” rating to a “hold” rating in a research report 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.00.

About MarketWise

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.