Erik Mickels Sells 3,334 Shares of MarketWise (NASDAQ:MKTW) Stock

Key Points

• Erik Mickels, MarketWise CFO, sold a total of 20,000 shares this month (including 3,334 shares on March 19 at $13.83), reducing his holdings by 3.77% to 85,064 shares.
• MarketWise posted a strong quarter with $0.77 EPS vs. -$0.22 expected and $83.39M revenue vs. $70.6M consensus, announced a quarterly dividend of $0.20 (annualized yield ~5.2%), and its stock trades near $15.45 with a market cap of about $248M.

MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) CFO Erik Mickels sold 3,334 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $13.83, for a total value of $46,109.22. Following the sale, the chief financial officer owned 85,064 shares of the company's stock, valued at approximately $1,176,435.12. This represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Erik Mickels also recently made the following trade(s):

• On Wednesday, March 18th, Erik Mickels sold 6,666 shares of MarketWise stock. The shares were sold at an average price of $14.10, for a total value of $93,990.60.
• On Wednesday, March 11th, Erik Mickels sold 6,666 shares of MarketWise stock. The stock was sold at an average price of $14.73, for a total value of $98,190.18.
• On Tuesday, March 10th, Erik Mickels sold 3,334 shares of MarketWise stock. The stock was sold at an average price of $15.20, for a total value of $50,676.80.

MarketWise Stock Performance

MKTW stock traded up $0.65 during trading on Friday, reaching $15.45. 84,903 shares of the company traded hands, compared to its average volume of 17,151. The business has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $15.70. MarketWise, Inc. has a 12 month low of $9.07 and a 12 month high of $21.74. The company has a market capitalization of $248.13 million, a price-to-earnings ratio of 6.75 and a beta of 0.55.

MarketWise (NASDAQ:MKTW - Get Free Report) last announced its earnings results on Friday, March 6th. The newsletter publisher reported $0.77 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.99. MarketWise had a net margin of 1.71% and a negative return on equity of 2.54%. The business had revenue of $83.39 million during the quarter, compared to the consensus estimate of $70.60 million.

MarketWise Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.80 dividend on an annualized basis and a yield of 5.2%. MarketWise's dividend payout ratio is presently 43.67%.

Institutional Investors Weigh In On MarketWise

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of MarketWise during the 2nd quarter valued at approximately $28,000. Wells Fargo & Company MN boosted its holdings in MarketWise by 52.5% during the fourth 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 boosted its holdings in MarketWise by 300.5% during the first 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 acquired a new stake in MarketWise during the third quarter valued at $191,000. Finally, Raymond James Financial Inc. purchased a new position in MarketWise in the second quarter valued at $226,000. 23.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKTW has been the topic of several analyst reports. UBS Group reaffirmed an "outperform" rating on shares of MarketWise in a report on Monday, November 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of MarketWise in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MarketWise currently has an average rating of "Hold" and a consensus target price of $20.00.

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.

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