MarketWise (NASDAQ:MKTW) Trading 3.8% Higher

MarketWise, Inc. (NASDAQ:MKTW)’s share price traded up 3.8% during trading on Wednesday . The company traded as high as $1.65 and last traded at $1.64. 15,153 shares were traded during trading, a decline of 87% from the average session volume of 118,914 shares. The stock had previously closed at $1.58.

Analyst Ratings Changes

Separately, UBS Group dropped their price target on MarketWise from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, March 28th.

MarketWise Price Performance

The stock has a market capitalization of $533.84 million, a P/E ratio of 31.80 and a beta of 0.53. The company has a 50 day simple moving average of $1.83 and a 200-day simple moving average of $2.24.

MarketWise Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 15th will be paid a $0.01 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.04 annualized dividend and a dividend yield of 2.47%. MarketWise’s payout ratio is presently 80.00%.

Hedge Funds Weigh In On MarketWise

Several hedge funds have recently made changes to their positions in MKTW. BlackRock Inc. grew its position in shares of MarketWise by 98.7% in the second quarter. BlackRock Inc. now owns 1,678,754 shares of the newsletter publisher’s stock valued at $3,358,000 after purchasing an additional 833,794 shares in the last quarter. Vanguard Group Inc. lifted its stake in MarketWise by 87.8% during the first quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher’s stock worth $7,133,000 after purchasing an additional 706,607 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in MarketWise during the first quarter worth about $1,893,000. Formidable Asset Management LLC lifted its stake in MarketWise by 50.3% during the third quarter. Formidable Asset Management LLC now owns 713,822 shares of the newsletter publisher’s stock worth $1,142,000 after purchasing an additional 239,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of MarketWise by 65.7% in the 2nd quarter. Geode Capital Management LLC now owns 555,049 shares of the newsletter publisher’s stock valued at $1,110,000 after acquiring an additional 220,087 shares during the last quarter. 23.04% of the stock is currently owned by hedge funds and other 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.