MarketWise, Inc. $MKTW Shares Sold by Formidable Asset Management LLC

Key Points

• Formidable Asset Management LLC reduced its stake in MarketWise, Inc. by 58%, now holding 206,558 shares.
• MarketWise reported EPS of $0.53 for the last quarter, falling short of analysts' expectations of $0.64, despite revenue exceeding expectations at $79.95 million.
• The company recently declared a quarterly dividend of $0.20, yielding 4.8% annually.

Formidable Asset Management LLC trimmed its position in shares of MarketWise, Inc. (NASDAQ:MKTW - Free Report) by 58.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,558 shares of the newsletter publisher's stock after selling 285,000 shares during the period. MarketWise comprises about 0.6% of Formidable Asset Management LLC's portfolio, making the stock its 29th biggest position. Formidable Asset Management LLC owned 1.27% of MarketWise worth $4,088,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MKTW. Phraction Management LLC purchased a new stake in shares of MarketWise during the first quarter worth approximately $136,000. MTM Investment Management LLC increased its stake in shares of MarketWise by 50.5% during the first quarter. MTM Investment Management LLC now owns 280,250 shares of the newsletter publisher's stock worth $142,000 after buying an additional 93,987 shares during the period. AQR Capital Management LLC increased its stake in shares of 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 during the period. XTX Topco Ltd increased its stake in shares of MarketWise by 172.4% during the first quarter. XTX Topco Ltd now owns 122,184 shares of the newsletter publisher's stock worth $60,000 after buying an additional 77,335 shares during the period. Finally, Militia Capital Partners LP purchased a new stake in shares of MarketWise during the first quarter worth approximately $35,000. 23.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MarketWise Stock Up 1.9%

Shares of MarketWise stock opened at $16.71 on Friday. The firm has a market capitalization of $273.54 million, a P/E ratio of 6.10 and a beta of 0.52. MarketWise, Inc. has a 52 week low of $9.07 and a 52 week high of $21.74. The firm's 50 day moving average is $18.30 and its two-hundred day moving average is $16.21.

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

MarketWise Announces Dividend

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

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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