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

Formidable Asset Management LLC lowered its stake in MarketWise, Inc. (NASDAQ:MKTW - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,558 shares of the newsletter publisher's stock after selling 19,000 shares during the quarter. Formidable Asset Management LLC owned 3.03% of MarketWise worth $243,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of MarketWise by 1,756.2% in the 4th quarter. Barclays PLC now owns 959,477 shares of the newsletter publisher's stock worth $545,000 after buying an additional 907,788 shares in the last quarter. Phraction Management LLC bought a new stake in MarketWise during the 1st quarter valued at about $136,000. Eschler Asset Management LLP bought a new stake in shares of MarketWise in the 4th quarter valued at about $63,000. MTM Investment Management LLC raised its holdings 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings 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 in the last quarter. 23.04% of the stock is currently owned by institutional investors.

MarketWise Price Performance

NASDAQ:MKTW traded up $0.73 during trading hours on Thursday, hitting $20.42. 23,216 shares of the company were exchanged, compared to its average volume of 29,229. The company's 50 day moving average price is $18.15 and its 200-day moving average price is $14.29. The stock has a market capitalization of $331.42 million, a price-to-earnings ratio of 6.76 and a beta of 0.52. MarketWise, Inc. has a 52-week low of $9.07 and a 52-week high of $23.40.

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

MarketWise Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, May 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.92%. MarketWise's dividend payout ratio is currently 26.58%.

MarketWise 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.