MarketWise (NASDAQ:MKTW) Shares Down 0.8% – Here’s What Happened

MarketWise, Inc. (NASDAQ:MKTW) shares dropped 0.8% during mid-day trading on Thursday . The company traded as low as $14.66 and last traded at $14.73. Approximately 2,965 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 12,408 shares. The stock had previously closed at $14.85.

Wall Street Analysts Forecast Growth

MKTW has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of MarketWise in a research note on Wednesday, October 8th. UBS Group reiterated an “outperform” rating on shares of MarketWise in a report on Monday, November 24th. One equities research 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 has a consensus rating of “Hold” and an average target price of $20.00.

MarketWise Stock Performance

The company has a market cap of $236.12 million, a P/E ratio of 5.85 and a beta of 0.52. The business’s fifty day moving average is $15.86 and its two-hundred day moving average is $16.99.

MarketWise (NASDAQ:MKTW) last issued its earnings results on Thursday, November 6th. The newsletter publisher reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $1.90. MarketWise had a net margin of 1.70% and a negative return on equity of 2.62%. The business had revenue of $81.27 million for the quarter, compared to the consensus estimate of $69.22 million.

MarketWise Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Friday, November 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.4%. MarketWise’s payout ratio is 31.75%.

Hedge Funds Weigh In On MarketWise

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new stake in shares of MarketWise in the 3rd quarter valued at about $191,000. Vanguard Group Inc. increased its holdings in 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 period. MTM Investment Management LLC bought a new position in MarketWise in the third quarter worth approximately $359,000. Raymond James Financial Inc. purchased a new stake in MarketWise during the second quarter worth $226,000. Finally, Russell Investments Group Ltd. purchased a new stake in MarketWise during the second quarter worth $28,000. Institutional investors own 23.04% of the company’s stock.

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.