MarketWise (NASDAQ:MKTW) Releases Earnings Results, Beats Expectations By $0.99 EPS

MarketWise (NASDAQ:MKTW) released its quarterly earnings results on Thursday. The newsletter publisher reported $0.77 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.99, reports. The firm had revenue of $83.39 million for the quarter, compared to analyst estimates of $70.60 million. MarketWise had a net margin of 1.70% and a negative return on equity of 2.62%.

MarketWise Stock Performance

NASDAQ MKTW traded up $0.30 during trading on Friday, hitting $14.94. The stock had a trading volume of 20,280 shares, compared to its average volume of 9,698. The company’s 50-day moving average price is $15.23 and its two-hundred day moving average price is $15.94. The company has a market capitalization of $239.47 million, a PE ratio of 5.93 and a beta of 0.55. MarketWise has a 12 month low of $9.07 and a 12 month high of $21.74.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MKTW. UBS Group reissued an “outperform” rating on shares of MarketWise in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketWise in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MarketWise currently has an average rating of “Hold” and a consensus price target of $20.00.

Institutional Trading of MarketWise

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of MarketWise in the second quarter worth $28,000. Wells Fargo & Company MN grew its stake in shares of MarketWise by 52.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock worth $33,000 after acquiring an additional 757 shares during the period. Raymond James Financial Inc. purchased a new position in MarketWise in the 2nd quarter valued at approximately $226,000. Susquehanna International Group LLP purchased a new stake in shares of MarketWise in the third quarter worth about $191,000. Finally, Renaissance Technologies LLC raised its position in shares of MarketWise by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock worth $299,000 after buying an additional 900 shares in the last quarter. 23.04% of the stock is owned by institutional investors and hedge funds.

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.