MarketWise (NASDAQ:MKTW) Insider Erik Mickels Sells 3,973 Shares

MarketWise, Inc. (NASDAQ:MKTW) insider Erik Mickels sold 3,973 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.14, for a total transaction of $76,043.22. Following the sale, the insider owned 75,091 shares in the company, valued at $1,437,241.74. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MarketWise Stock Down 1.5%

Shares of NASDAQ MKTW traded down $0.28 during midday trading on Thursday, hitting $18.86. The company had a trading volume of 16,125 shares, compared to its average volume of 16,588. The firm has a market capitalization of $294.78 million, a price-to-earnings ratio of 11.43 and a beta of 0.26. MarketWise, Inc. has a twelve month low of $13.49 and a twelve month high of $21.74. The business has a 50-day simple moving average of $17.31 and a two-hundred day simple moving average of $16.28.

MarketWise (NASDAQ:MKTW) last issued its earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share (EPS) for the quarter. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. The company had revenue of $77.03 million during the quarter, compared to analysts’ expectations of $80.74 million. On average, equities analysts forecast that MarketWise, Inc. will post 1.64 EPS for the current year.

MarketWise Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Friday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from MarketWise’s previous quarterly dividend of $0.20. MarketWise’s dividend payout ratio (DPR) is 60.61%.

Analyst Ratings Changes

MKTW has been the topic of several research reports. Wall Street Zen lowered MarketWise from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings upgraded shares of MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.00.

Hedge Funds Weigh In On MarketWise

Several hedge funds have recently bought and sold shares of MKTW. Russell Investments Group Ltd. purchased a new stake in shares of MarketWise in the second quarter valued at $28,000. Wells Fargo & Company MN increased its position in 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 purchasing an additional 757 shares in the last quarter. AQR Capital Management LLC raised 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 purchasing an additional 91,282 shares during the last quarter. Susquehanna International Group LLP acquired a new position in MarketWise in the 3rd quarter valued at about $191,000. Finally, Raymond James Financial Inc. purchased a new position in MarketWise in the 2nd quarter valued at about $226,000. Hedge funds and other 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.