MarketWise (NASDAQ:MKTW) Trading Up 1% – Time to Buy?

MarketWise, Inc. (NASDAQ:MKTW) was up 1% during mid-day trading on Friday . The company traded as high as $18.32 and last traded at $18.00. Approximately 3,537 shares were traded during trading, a decline of 75% from the average daily volume of 14,026 shares. The stock had previously closed at $17.82.

Analyst Upgrades and Downgrades

MKTW has been the topic of a number of analyst reports. Wall Street Zen lowered shares of MarketWise from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings upgraded MarketWise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

MarketWise Trading Up 1.0%

The firm has a market capitalization of $283.86 million, a PE ratio of 20.45 and a beta of 0.20. The business has a 50-day moving average of $19.23 and a 200 day moving average of $17.43.

MarketWise (NASDAQ:MKTW) last posted its quarterly earnings data on Thursday, August 6th. The newsletter publisher reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.89). MarketWise had a negative return on equity of 0.96% and a net margin of 0.70%.The firm had revenue of $75.81 million for the quarter, compared to analysts’ expectations of $78.37 million. On average, sell-side analysts expect that MarketWise, Inc. will post 0.67 EPS for the current fiscal year.

MarketWise Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.80 annualized dividend and a yield of 4.4%. MarketWise’s payout ratio is 113.64%.

Insiders Place Their Bets

In other MarketWise news, insider Erik Mickels sold 3,973 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total value of $76,043.22. Following the completion of the sale, the insider directly owned 75,091 shares of the company’s stock, valued at approximately $1,437,241.74. This represents a 5.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 29.95% of the company’s stock.

Hedge Funds Weigh In On MarketWise

Several hedge funds have recently modified their holdings of MKTW. Russell Investments Group Ltd. bought a new position in shares of MarketWise in the second quarter valued at approximately $28,000. Wells Fargo & Company MN lifted its holdings in MarketWise by 52.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock worth $33,000 after acquiring an additional 757 shares during the period. Raymond James Financial Inc. bought a new stake in MarketWise during the second quarter worth $226,000. Susquehanna International Group LLP purchased a new position in MarketWise in the third quarter worth $191,000. Finally, Renaissance Technologies LLC boosted its position in 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 purchasing an additional 900 shares during the last quarter. Institutional investors own 23.04% of the company’s stock.

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.