Erik Mickels Sells 3,973 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) insider Erik Mickels sold 3,973 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total transaction of $76,043.22. Following the transaction, the insider directly owned 75,091 shares of the company’s stock, valued at $1,437,241.74. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MarketWise Stock Performance

NASDAQ:MKTW opened at $18.86 on Friday. The stock has a market capitalization of $294.78 million, a PE ratio of 11.43 and a beta of 0.26. The firm’s 50 day moving average is $17.33 and its 200 day moving average is $16.30. MarketWise, Inc. has a 12 month low of $13.49 and a 12 month high of $21.74.

MarketWise (NASDAQ:MKTW) last posted its quarterly earnings data on Thursday, May 7th. The newsletter publisher reported ($0.23) EPS for the quarter. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. The firm had revenue of $77.03 million during the quarter, compared to analysts’ expectations of $80.74 million. Research analysts predict that MarketWise, Inc. will post 1.64 earnings per share for the current year.

MarketWise Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Friday, May 15th were issued a $0.25 dividend. This is an increase from MarketWise’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.3%. MarketWise’s payout ratio is 60.61%.

Institutional Trading of MarketWise

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in MarketWise in the 2nd quarter worth about $28,000. Wells Fargo & Company MN increased its position in shares of MarketWise by 52.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock valued at $33,000 after buying an additional 757 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MarketWise during the second quarter valued at about $226,000. Susquehanna International Group LLP purchased a new stake in shares of MarketWise in the third quarter worth about $191,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of MarketWise by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock worth $299,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 23.04% of the company’s stock.

Analyst Ratings Changes

MKTW has been the subject of several recent research reports. Weiss Ratings upgraded shares of MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Wall Street Zen cut shares of MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.00.

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.