Goldman Sachs Group Inc. Cuts Holdings in MarketWise, Inc. $MKTW

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in MarketWise, Inc. by 57% during the first quarter, now owning approximately 63,258 shares valued at about $31,000.
• MarketWise reported Q2 earnings per share of $0.53, missing the consensus estimate of $0.64, despite higher-than-expected revenue of $79.95 million.
• The company declared a quarterly dividend of $0.20, offering a yield of 4.8% with a dividend payout ratio of 29.20% as of the latest announcement.

Goldman Sachs Group Inc. trimmed its holdings in shares of MarketWise, Inc. (NASDAQ:MKTW - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,258 shares of the newsletter publisher's stock after selling 83,759 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.39% of MarketWise worth $31,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of MarketWise in the 4th quarter valued at $31,000. Jane Street Group LLC increased its holdings in shares of MarketWise by 257.9% in the 4th quarter. Jane Street Group LLC now owns 85,005 shares of the newsletter publisher's stock valued at $48,000 after acquiring an additional 61,254 shares during the period. Militia Capital Partners LP purchased a new position in MarketWise in the first quarter valued at about $35,000. XTX Topco Ltd grew its stake in MarketWise by 172.4% in the first quarter. XTX Topco Ltd now owns 122,184 shares of the newsletter publisher's stock valued at $60,000 after purchasing an additional 77,335 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in MarketWise by 300.5% in the first 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. 23.04% of the stock is owned by hedge funds and other institutional investors.

MarketWise Stock Up 0.7%

Shares of NASDAQ MKTW opened at $16.53 on Wednesday. The business's 50 day moving average price is $18.21 and its 200 day moving average price is $16.30. The firm has a market cap of $270.60 million, a P/E ratio of 6.03 and a beta of 0.52. MarketWise, Inc. has a 52 week low of $9.07 and a 52 week high of $21.74.

MarketWise (NASDAQ:MKTW - Get Free Report) last issued its earnings results on Thursday, August 7th. The newsletter publisher reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.11). The business had revenue of $79.95 million for the quarter, compared to analysts' expectations of $72.65 million. MarketWise had a negative return on equity of 2.66% and a net margin of 1.69%.

MarketWise Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, August 15th. MarketWise's dividend payout ratio is presently 29.20%.

Analyst Ratings Changes

Separately, UBS Group reiterated a "neutral" rating and issued a $20.00 target price (up previously from $19.00) on shares of MarketWise in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.00.

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.

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