Frank Porter Stansberry Purchases 10,000 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry acquired 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $18.89 per share, with a total value of $188,900.00. Following the transaction, the director owned 301,756 shares in the company, valued at $5,700,170.84. The trade was a 3.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 8th, Frank Porter Stansberry acquired 41,375 shares of MarketWise stock. The shares were purchased at an average price of $18.99 per share, with a total value of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry acquired 17,270 shares of MarketWise stock. The shares were purchased at an average price of $15.19 per share, with a total value of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry purchased 23,103 shares of MarketWise stock. The stock was bought at an average price of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Up 0.9%

Shares of MKTW opened at $18.22 on Thursday. The company has a 50-day simple moving average of $16.79 and a 200-day simple moving average of $16.03. The company has a market capitalization of $292.61 million, a PE ratio of 11.04 and a beta of 0.25. MarketWise, Inc. has a 52-week low of $13.49 and a 52-week high of $21.74.

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

MarketWise Increases Dividend

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

Wall Street Analysts Forecast Growth

MKTW has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of MarketWise from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings downgraded shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Institutional Investors Weigh In On MarketWise

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in 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 acquiring an additional 9,961 shares during the last quarter. AQR Capital Management LLC grew its stake in MarketWise by 300.5% in the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock valued at $60,000 after acquiring an additional 91,282 shares during the last quarter. Vanguard Group Inc. grew its stake in MarketWise by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock valued at $1,382,000 after acquiring an additional 10,113 shares during the last quarter. State Street Corp grew its stake in MarketWise by 5.2% in the 4th quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock valued at $432,000 after acquiring an additional 1,414 shares during the last quarter. Finally, MTM Investment Management LLC acquired a new stake in MarketWise in the 3rd quarter valued at about $359,000. 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.