Insider Buying: MarketWise (NASDAQ:MKTW) Director Buys 10,000 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $17.88 per share, for a total transaction of $178,800.00. Following the completion of the transaction, the director directly owned 365,490 shares of the company’s stock, valued at approximately $6,534,961.20. The trade was a 2.81% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, May 20th, Frank Porter Stansberry bought 20,100 shares of MarketWise stock. The stock was bought at an average cost of $17.21 per share, for a total transaction of $345,921.00.
• On Monday, May 18th, Frank Porter Stansberry bought 3,623 shares of MarketWise stock. The stock was bought at an average cost of $16.50 per share, for a total transaction of $59,779.50.
• On Friday, May 15th, Frank Porter Stansberry bought 11 shares of MarketWise stock. The stock was bought at an average cost of $16.71 per share, for a total transaction of $183.81.
• On Thursday, May 14th, Frank Porter Stansberry bought 20,000 shares of MarketWise stock. The stock was bought at an average cost of $18.12 per share, for a total transaction of $362,400.00.
• On Monday, May 11th, Frank Porter Stansberry bought 10,000 shares of MarketWise stock. The stock was bought at an average cost of $18.89 per share, for a total transaction of $188,900.00.
• On Friday, May 8th, Frank Porter Stansberry bought 41,375 shares of MarketWise stock. The stock was bought at an average cost of $18.99 per share, for a total transaction of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The stock was bought at an average cost of $15.19 per share, for a total transaction of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry bought 23,103 shares of MarketWise stock. The stock was bought at an average cost of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Stock Down 4.2%

Shares of MKTW traded down $0.76 during mid-day trading on Tuesday, hitting $17.23. The company had a trading volume of 23,821 shares, compared to its average volume of 29,395. The business’s 50-day simple moving average is $17.24 and its 200-day simple moving average is $16.13. MarketWise, Inc. has a 1-year low of $13.49 and a 1-year high of $21.74. The stock has a market cap of $269.30 million, a PE ratio of 10.44 and a beta of 0.25.

MarketWise (NASDAQ:MKTW) last released its earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%.The company had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. On average, sell-side analysts expect that MarketWise, Inc. will post 2.92 earnings per share for the current year.

MarketWise Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.25 per share. This is an increase from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, May 15th. MarketWise’s payout ratio is presently 60.61%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MTM Investment Management LLC acquired a new position in shares of MarketWise during the third quarter worth $359,000. Renaissance Technologies LLC lifted its position in shares of MarketWise by 36.6% during the first quarter. Renaissance Technologies LLC now owns 27,174 shares of the newsletter publisher’s stock worth $509,000 after purchasing an additional 7,275 shares in the last quarter. Barclays PLC lifted its position in shares of MarketWise by 7.0% during the fourth quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock worth $2,293,000 after purchasing an additional 9,961 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MarketWise by 13.8% during the third quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock worth $1,382,000 after purchasing an additional 10,113 shares in the last quarter. Finally, State Street Corp lifted its position in shares of MarketWise by 5.2% during the fourth quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock worth $432,000 after purchasing an additional 1,414 shares in the last quarter. 23.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MKTW has been the subject of several research reports. Weiss Ratings downgraded shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.