Frank Porter Stansberry Purchases 17,270 Shares of MarketWise (NASDAQ:MKTW) Stock

Key Points

• Frank Porter Stansberry made large insider purchases, acquiring 23,103 shares on March 19 and 17,270 shares on March 20 (40,373 shares total) for roughly $592,242, boosting his stake by 7.41% to 250,381 shares valued at about $3.8M.
• MarketWise beat expectations with $0.77 EPS vs. a ($0.22) estimate and $83.39M revenue vs. $70.6M expected, and announced a $0.20 quarterly dividend (annualized $0.80, ~5.5% yield).
• The stock dipped about 6% to $14.53, with a market cap of $233.35M and a P/E of 6.35; analysts have an average "Hold" rating and a consensus target price of $20.00.

MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) Director Frank Porter Stansberry bought 17,270 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $15.19 per share, for a total transaction of $262,331.30. Following the completion of the transaction, the director owned 250,381 shares of the company's stock, valued at $3,803,287.39. This represents a 7.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Frank Porter Stansberry also recently made the following trade(s):

• On Thursday, March 19th, Frank Porter Stansberry purchased 23,103 shares of MarketWise stock. The stock was purchased at an average cost of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Down 6.0%

Shares of MKTW stock traded down $0.92 during mid-day trading on Monday, reaching $14.53. The stock had a trading volume of 24,708 shares, compared to its average volume of 21,209. MarketWise, Inc. has a one year low of $9.07 and a one year high of $21.74. The firm has a market cap of $233.35 million, a PE ratio of 6.35 and a beta of 0.55. The firm's 50 day simple moving average is $15.20 and its 200 day simple moving average is $15.66.

MarketWise (NASDAQ:MKTW - Get Free Report) last issued its earnings results on Friday, March 6th. The newsletter publisher reported $0.77 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.99. The business had revenue of $83.39 million during the quarter, compared to analyst estimates of $70.60 million. MarketWise had a negative return on equity of 2.54% and a net margin of 1.71%.

MarketWise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 18th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.5%. MarketWise's dividend payout ratio is currently 43.67%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MKTW. UBS Group reiterated an "outperform" rating on shares of MarketWise in a research report on Monday, November 24th. Weiss Ratings restated a "sell (d+)" rating on shares of MarketWise in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.00.

Hedge Funds Weigh In On MarketWise

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position 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 buying an additional 91,282 shares in the last quarter. MTM Investment Management LLC acquired a new stake in shares of MarketWise during the third quarter worth approximately $359,000. Susquehanna International Group LLP bought a new position in shares of MarketWise in the third quarter valued at approximately $191,000. Raymond James Financial Inc. bought a new position in shares of MarketWise in the second quarter valued at approximately $226,000. Finally, Vanguard Group Inc. boosted its holdings in shares of MarketWise by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher's stock worth $1,382,000 after acquiring an additional 10,113 shares in the last quarter. 23.04% of the stock is owned by institutional investors.

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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