MarketWise (NASDAQ:MKTW) Stock Price Up 0.4% – Time to Buy?

MarketWise, Inc. (NASDAQ:MKTW) shares shot up 0.4% during trading on Tuesday . The stock traded as high as $20.61 and last traded at $20.49. 3,862 shares were traded during mid-day trading, a decline of 68% from the average session volume of 12,256 shares. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

MKTW has been the subject of several analyst reports. Weiss Ratings upgraded 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 research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

MarketWise Stock Performance

The firm has a market cap of $311.51 million, a P/E ratio of 12.08 and a beta of 0.26. The firm’s fifty day simple moving average is $18.25 and its 200 day simple moving average is $16.94.

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

MarketWise Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, May 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 5.0%. MarketWise’s payout ratio is presently 60.61%.

Insider Activity at MarketWise

In other news, insider Erik Mickels sold 3,973 shares of MarketWise stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $19.14, for a total value of $76,043.22. Following the completion of the transaction, the insider owned 75,091 shares in the company, valued at approximately $1,437,241.74. The trade was a 5.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frank Porter Stansberry purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $17.88 per share, for a total transaction of $178,800.00. Following the acquisition, the director directly owned 365,490 shares in the company, valued at $6,534,961.20. This trade represents a 2.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 105,109 shares of company stock valued at $1,921,696 over the last ninety days. Corporate insiders own 29.95% of the company’s stock.

Hedge Funds Weigh In On MarketWise

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in MarketWise by 300.5% in 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 during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of MarketWise during the second quarter valued at approximately $28,000. Raymond James Financial Inc. bought a new position in shares of MarketWise during the second quarter valued at approximately $226,000. Vanguard Group Inc. grew its stake 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 valued at $1,382,000 after buying an additional 10,113 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of MarketWise in the third quarter worth approximately $191,000. 23.04% of the stock is currently owned by institutional investors.

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.