MarketWise (NASDAQ:MKTW) Stock Jumps 4.2% – Time to Buy?

Shares of MarketWise, Inc. (NASDAQ:MKTW) shot up 4.2% on Monday. The company traded as high as $19.06 and last traded at $18.77. Approximately 28,416 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 19,265 shares. The stock had previously closed at $18.01.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded MarketWise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

MarketWise Price Performance

The stock’s 50-day moving average price is $18.76 and its 200 day moving average price is $18.36. The firm has a market cap of $292.29 million, a P/E ratio of 21.08 and a beta of 0.21.

MarketWise (NASDAQ:MKTW) last announced its quarterly earnings data on Thursday, August 6th. The newsletter publisher reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.89). The company had revenue of $75.81 million during the quarter, compared to the consensus estimate of $78.37 million. MarketWise had a net margin of 0.70% and a negative return on equity of 0.96%. As a group, analysts forecast that MarketWise, Inc. will post 0.67 EPS for the current fiscal year.

MarketWise Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, August 19th were paid a $0.20 dividend. This is a negative change from MarketWise’s previous quarterly dividend of $0.25. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Wednesday, August 19th. MarketWise’s dividend payout ratio is 113.64%.

Institutional Investors Weigh In On MarketWise

A hedge fund recently raised its stake in MarketWise stock. Copeland Capital Management LLC increased its stake in MarketWise, Inc. (NASDAQ:MKTW) by 34.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,125 shares of the newsletter publisher’s stock after buying an additional 2,580 shares during the quarter. Copeland Capital Management LLC owned approximately 0.06% of MarketWise worth $200,000 as of its most recent SEC filing. 23.04% of the stock is currently owned by institutional investors.

About MarketWise

MarketWise, Inc is a digital subscription company that provides investment research, financial education and analytical tools for self-directed investors. Its offerings are designed to help individuals evaluate markets, identify potential investment opportunities and manage their portfolios.

The company delivers its products primarily through subscription-based newsletters, market commentary, investing and trading recommendations, online courses, software and other digital resources. Its portfolio of financial media and research brands has included Stansberry Research, InvestorPlace, TradeSmith and Chaikin Analytics.

MarketWise traces its roots to the financial publishing businesses associated with Porter Stansberry and became a publicly traded company in 2021 through a business combination with Ascendant Digital Acquisition Corp.