Frank Porter Stansberry Acquires 41,375 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry purchased 41,375 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $18.99 per share, with a total value of $785,711.25. Following the completion of the purchase, the director owned 291,756 shares in the company, valued at $5,540,446.44. This represents a 16.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Frank Porter Stansberry also recently made the following trade(s):

• On Monday, May 11th, Frank Porter Stansberry purchased 10,000 shares of MarketWise stock. The shares were acquired at an average cost of $18.89 per share, with a total value of $188,900.00.
• On Friday, March 20th, Frank Porter Stansberry acquired 17,270 shares of MarketWise stock. The shares were acquired at an average cost of $15.19 per share, for a total transaction of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry acquired 23,103 shares of MarketWise stock. The stock was acquired at an average price of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Stock Performance

Shares of NASDAQ MKTW opened at $18.22 on Thursday. The company has a 50 day simple moving average of $16.79 and a two-hundred day simple moving average of $16.03. MarketWise, Inc. has a fifty-two week low of $13.49 and a fifty-two week high of $21.74. The company has a market capitalization of $292.61 million, a price-to-earnings ratio of 11.04 and a beta of 0.25.

MarketWise (NASDAQ:MKTW) last issued its quarterly earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) EPS for the quarter. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%.The company had revenue of $77.03 million during the quarter, compared to the consensus estimate of $80.74 million. On average, analysts forecast that MarketWise, Inc. will post 2.92 earnings per share for the current fiscal year.

MarketWise Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Friday, May 15th will be paid a $0.25 dividend. This is an increase from MarketWise’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, May 15th. MarketWise’s payout ratio is currently 60.61%.

Wall Street Analysts Forecast Growth

MKTW has been the subject of several recent analyst reports. Weiss Ratings lowered MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Wall Street Zen lowered shares of MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Trading of MarketWise

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in shares of MarketWise in the second quarter worth $28,000. Wells Fargo & Company MN increased its holdings in MarketWise by 52.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock worth $33,000 after buying an additional 757 shares in the last quarter. AQR Capital Management LLC increased its holdings in MarketWise by 300.5% in the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after buying an additional 91,282 shares in the last quarter. Susquehanna International Group LLP purchased a new position in MarketWise in the 3rd quarter worth about $191,000. Finally, Raymond James Financial Inc. purchased a new position in MarketWise in the 2nd quarter worth about $226,000. Institutional investors own 23.04% of the company’s stock.

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.