MarketWise, Inc. (NASDAQ:MKTW) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC cut its position in shares of MarketWise, Inc. (NASDAQ:MKTW - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 491,558 shares of the newsletter publisher's stock after selling 19,000 shares during the quarter. Formidable Asset Management LLC owned about 3.03% of MarketWise worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC boosted its stake in MarketWise by 1,756.2% during the fourth quarter. Barclays PLC now owns 959,477 shares of the newsletter publisher's stock valued at $545,000 after buying an additional 907,788 shares during the last quarter. Phraction Management LLC bought a new position in MarketWise during the first quarter valued at approximately $136,000. Eschler Asset Management LLP bought a new stake in shares of MarketWise in the 4th quarter valued at approximately $63,000. MTM Investment Management LLC lifted its stake in shares of MarketWise by 50.5% in the 1st quarter. MTM Investment Management LLC now owns 280,250 shares of the newsletter publisher's stock valued at $142,000 after purchasing an additional 93,987 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of MarketWise by 108.0% in the 4th quarter. JPMorgan Chase & Co. now owns 147,228 shares of the newsletter publisher's stock valued at $84,000 after purchasing an additional 76,460 shares during the last quarter. 23.04% of the stock is owned by institutional investors.

MarketWise Stock Performance

MKTW stock traded up $0.99 during trading on Tuesday, reaching $19.21. 14,029 shares of the company traded hands, compared to its average volume of 26,007. MarketWise, Inc. has a 12 month low of $9.08 and a 12 month high of $23.70. The business has a 50 day simple moving average of $17.96 and a 200 day simple moving average of $14.17. The company has a market capitalization of $311.78 million, a price-to-earnings ratio of 6.38 and a beta of 0.52.

MarketWise (NASDAQ:MKTW - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The newsletter publisher reported $0.41 earnings per share for the quarter, beating the consensus estimate of ($0.99) by $1.40. The company had revenue of $83.51 million during the quarter, compared to analysts' expectations of $75.89 million. MarketWise had a negative return on equity of 2.66% and a net margin of 1.64%.

MarketWise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, May 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. MarketWise's payout ratio is currently 26.58%.

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.