Scott Daniel Forney Sells 711 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) General Counsel Scott Daniel Forney sold 711 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.14, for a total transaction of $13,608.54. Following the completion of the sale, the general counsel directly owned 21,459 shares in the company, valued at approximately $410,725.26. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MarketWise Stock Performance

NASDAQ:MKTW opened at $18.86 on Friday. The firm has a 50-day moving average price of $17.33 and a two-hundred day moving average price of $16.30. MarketWise, Inc. has a twelve month low of $13.49 and a twelve month high of $21.74. The company has a market capitalization of $294.78 million, a P/E ratio of 11.43 and a beta of 0.26.

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

MarketWise Increases Dividend

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

Hedge Funds Weigh In On MarketWise

Several institutional investors and hedge funds have recently modified their holdings of MKTW. Renaissance Technologies LLC boosted its position in MarketWise by 36.6% during the first quarter. Renaissance Technologies LLC now owns 27,174 shares of the newsletter publisher’s stock worth $509,000 after acquiring an additional 7,275 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in MarketWise by 60.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,047 shares of the newsletter publisher’s stock valued at $31,000 after acquiring an additional 773 shares during the last quarter. Barclays PLC raised its holdings 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. State Street Corp lifted its stake 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 purchasing an additional 1,414 shares during the period. Finally, Wells Fargo & Company MN lifted 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 purchasing an additional 757 shares during the period. Hedge funds and other institutional investors own 23.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered MarketWise from a “buy” rating to a “hold” rating in a research note 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 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, MarketWise presently has a consensus rating of “Hold” and an average target price of $20.00.

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.