MarketWise (NASDAQ:MKTW) Releases Earnings Results, Misses Estimates By $0.89 EPS

MarketWise (NASDAQ:MKTW) issued its quarterly earnings data on Thursday. The newsletter publisher reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.89), FiscalAI reports. MarketWise had a negative return on equity of 1.00% and a net margin of 0.70%.The business had revenue of $75.81 million for the quarter, compared to analysts’ expectations of $78.37 million.

MarketWise Stock Down 5.1%

Shares of MKTW stock traded down $1.09 during mid-day trading on Friday, hitting $20.25. 38,009 shares of the company’s stock were exchanged, compared to its average volume of 10,737. The stock has a market cap of $316.51 million, a price-to-earnings ratio of 23.01 and a beta of 0.20. MarketWise has a fifty-two week low of $13.49 and a fifty-two week high of $22.83. The stock has a 50-day simple moving average of $18.66 and a two-hundred day simple moving average of $17.17.

MarketWise Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. MarketWise’s dividend payout ratio (DPR) is 60.61%.

Wall Street Analysts Forecast Growth

MKTW has been the topic of a number of analyst reports. Wall Street Zen cut MarketWise from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings raised MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MarketWise currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Insider Activity

In other news, insider Erik Mickels sold 3,973 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total transaction of $76,043.22. Following the completion of the transaction, the insider owned 75,091 shares of the company’s stock, valued at $1,437,241.74. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frank Porter Stansberry bought 20,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $17.21 per share, for a total transaction of $345,921.00. Following the completion of the transaction, the director directly owned 355,490 shares of the company’s stock, valued at approximately $6,117,982.90. The trade was a 5.99% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 63,734 shares of company stock worth $1,135,984 over the last quarter. 29.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MarketWise

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of MarketWise by 7.0% in the 4th quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock valued at $2,293,000 after purchasing an additional 9,961 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of MarketWise by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock valued at $60,000 after buying an additional 91,282 shares during the period. Vanguard Group Inc. increased its holdings in shares of MarketWise by 13.8% during the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock worth $1,382,000 after buying an additional 10,113 shares during the last quarter. State Street Corp increased its holdings in shares of MarketWise by 5.2% during the 4th quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock worth $432,000 after buying an additional 1,414 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of MarketWise by 4.7% in the 4th quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock worth $299,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds 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.