MarketWise, Inc. (NASDAQ:MKTW) Sees Large Growth in Short Interest

MarketWise, Inc. (NASDAQ:MKTW) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 33,872 shares, a growth of 20.4% from the February 26th total of 28,122 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 17,365 shares, the days-to-cover ratio is currently 2.0 days.

Insider Activity at MarketWise

In related news, Director Frank Porter Stansberry purchased 17,270 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $15.19 per share, with a total value of $262,331.30. Following the acquisition, the director directly owned 250,381 shares of the company’s stock, valued at approximately $3,803,287.39. This represents a 7.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Erik Mickels sold 6,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.70, for a total transaction of $88,200.00. Following the sale, the chief financial officer owned 79,064 shares in the company, valued at approximately $1,162,240.80. This trade represents a 7.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 26,000 shares of company stock valued at $377,167. 29.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MarketWise

A number of large investors have recently added to or reduced their stakes in the business. 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. MTM Investment Management LLC bought a new position in shares of MarketWise during the third quarter valued at about $359,000. Susquehanna International Group LLP purchased a new position in shares of MarketWise in the third quarter worth about $191,000. Raymond James Financial Inc. bought a new stake in shares of MarketWise in the 2nd quarter valued at about $226,000. Finally, Vanguard Group Inc. lifted its stake in shares of MarketWise by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock valued at $1,382,000 after acquiring an additional 10,113 shares during the last quarter. Hedge funds and other institutional investors own 23.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketWise in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.00.

MarketWise Trading Up 0.3%

Shares of NASDAQ MKTW opened at $18.77 on Thursday. The stock’s 50-day moving average is $15.52 and its 200 day moving average is $15.67. The stock has a market cap of $301.45 million, a price-to-earnings ratio of 8.20 and a beta of 0.34. MarketWise has a 1-year low of $9.07 and a 1-year high of $21.74.

MarketWise (NASDAQ:MKTW) last issued its earnings results on Friday, March 6th. The newsletter publisher reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.99. MarketWise had a negative return on equity of 2.54% and a net margin of 1.71%.The business had revenue of $83.39 million during the quarter, compared to analyst estimates of $70.60 million.

MarketWise Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 18th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. MarketWise’s dividend payout ratio is 43.67%.

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.