MarketWise (NASDAQ:MKTW) Announces Quarterly Earnings Results

MarketWise (NASDAQ:MKTW) issued its quarterly earnings results on Thursday. The newsletter publisher reported $0.58 earnings per share for the quarter, FiscalAI reports. MarketWise had a net margin of 1.69% and a negative return on equity of 2.66%. The company had revenue of $81.27 million for the quarter.

MarketWise Stock Down 0.3%

Shares of NASDAQ MKTW traded down $0.05 during midday trading on Thursday, reaching $16.79. 4,881 shares of the stock were exchanged, compared to its average volume of 16,028. The firm has a market cap of $274.85 million, a price-to-earnings ratio of 6.15 and a beta of 0.52. MarketWise has a twelve month low of $9.07 and a twelve month high of $21.74. The firm has a 50-day simple moving average of $16.22 and a two-hundred day simple moving average of $17.09.

MarketWise Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.8%. MarketWise’s dividend payout ratio (DPR) is presently 29.20%.

Analyst Ratings Changes

Several brokerages recently weighed in on MKTW. UBS Group reiterated a “neutral” rating and issued a $20.00 price target (up previously from $19.00) on shares of MarketWise in a report on Thursday, August 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketWise in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $20.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MTM Investment Management LLC lifted its position in shares of MarketWise by 50.5% during the 1st quarter. MTM Investment Management LLC now owns 280,250 shares of the newsletter publisher’s stock valued at $142,000 after buying an additional 93,987 shares in the last quarter. XTX Topco Ltd lifted its position in shares of MarketWise by 172.4% during the 1st quarter. XTX Topco Ltd now owns 122,184 shares of the newsletter publisher’s stock valued at $60,000 after buying an additional 77,335 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of MarketWise by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock valued at $60,000 after buying an additional 91,282 shares in the last quarter. Militia Capital Partners LP purchased a new position in shares of MarketWise during the 1st quarter valued at approximately $35,000. Finally, Raymond James Financial Inc. purchased a new position in shares of MarketWise during the 2nd quarter valued at approximately $226,000. Hedge funds and other institutional investors own 23.04% of the company’s stock.

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.