Phraction Management LLC Sells 163,011 Shares of MarketWise, Inc. $MKTW

Key Points

• Phraction Management LLC significantly reduced its stake in MarketWise, Inc. by 59.3%, selling 163,011 shares and retaining ownership of 112,070 shares valued at approximately $2.2 million.
• MarketWise reported earnings per share of $0.53 for the last quarter, missing analysts' expectations, with a net revenue of $79.95 million.
• The firm declared a quarterly dividend of $0.20 per share, reflecting an annual yield of 4.9% and a payout ratio of 29.2%.

Phraction Management LLC reduced its stake in MarketWise, Inc. (NASDAQ:MKTW - Free Report) by 59.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,070 shares of the newsletter publisher's stock after selling 163,011 shares during the period. Phraction Management LLC owned approximately 0.69% of MarketWise worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MKTW. BNP Paribas Financial Markets acquired a new stake in MarketWise in the 4th quarter valued at $31,000. Militia Capital Partners LP bought a new position in shares of MarketWise during the first quarter valued at $35,000. Jane Street Group LLC boosted its stake 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 purchasing an additional 61,254 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of MarketWise by 300.5% in the 1st 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 in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of MarketWise by 172.4% in the 1st quarter. XTX Topco Ltd now owns 122,184 shares of the newsletter publisher's stock worth $60,000 after purchasing an additional 77,335 shares during the last quarter. 23.04% of the stock is owned by institutional investors and hedge funds.

MarketWise Price Performance

MKTW opened at $16.22 on Friday. The company's 50 day simple moving average is $18.06 and its 200-day simple moving average is $16.33. MarketWise, Inc. has a one year low of $9.07 and a one year high of $21.74. The stock has a market capitalization of $265.52 million, a P/E ratio of 5.92 and a beta of 0.51.

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

MarketWise Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.9%. MarketWise's dividend payout ratio is presently 29.20%.

Wall Street Analysts Forecast Growth

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