MarketWise (NASDAQ:MKTW) Director Frank Porter Stansberry Purchases 20,000 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry acquired 20,000 shares of MarketWise stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $18.12 per share, for a total transaction of $362,400.00. Following the transaction, the director owned 331,756 shares of the company’s stock, valued at $6,011,418.72. This represents a 6.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, May 11th, Frank Porter Stansberry acquired 10,000 shares of MarketWise stock. The shares were purchased at an average price of $18.89 per share, with a total value of $188,900.00.
• On Friday, May 8th, Frank Porter Stansberry bought 41,375 shares of MarketWise stock. The stock was purchased at an average price of $18.99 per share, for a total transaction of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry purchased 17,270 shares of MarketWise stock. The stock was purchased at an average cost of $15.19 per share, with a total value of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry purchased 23,103 shares of MarketWise stock. The shares were purchased at an average price of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Performance

MKTW stock opened at $17.27 on Friday. MarketWise, Inc. has a one year low of $13.49 and a one year high of $21.74. The firm’s 50 day moving average price is $16.85 and its 200-day moving average price is $16.05. The firm has a market cap of $277.36 million, a PE ratio of 10.47 and a beta of 0.25.

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

MarketWise Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Friday, May 15th will be issued a $0.25 dividend. This is a boost from MarketWise’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.8%. MarketWise’s payout ratio is 60.61%.

Institutional Investors Weigh In On MarketWise

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in shares of MarketWise during the second quarter worth about $28,000. Wells Fargo & Company MN grew its holdings in MarketWise by 52.5% during the 4th 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 in the last quarter. AQR Capital Management LLC grew its stake in shares of MarketWise by 300.5% during the first quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after purchasing an additional 91,282 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of MarketWise in the 3rd quarter valued at about $191,000. Finally, Raymond James Financial Inc. purchased a new position in MarketWise in the second quarter valued at approximately $226,000. Institutional investors and hedge funds own 23.04% of the company’s stock.

Analysts Set New Price Targets

MKTW has been the subject of a number of research analyst reports. Wall Street Zen cut MarketWise from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings downgraded shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently 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.