MarketWise, Inc. (NASDAQ:MKTW) Announces Quarterly Dividend of $0.20

Key Points

• MarketWise, Inc. has declared a quarterly dividend of $0.20 per share, with an ex-dividend date of August 15th and a dividend yield of 4.4%.
• The company reported an EPS of $0.41 for the last quarter, significantly beating expectations and achieving revenues of $83.51 million.
• Institutional investors have increased their stakes in MarketWise, with several firms boosting their positions by over 300%, indicating growing confidence in the company's prospects.

MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) announced a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.20 per share by the newsletter publisher on Thursday, September 25th. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 15th.

MarketWise has a dividend payout ratio of 64.0% indicating that its dividend is sufficiently covered by earnings.

MarketWise Price Performance

Shares of MKTW stock traded down $0.15 during mid-day trading on Monday, hitting $18.37. 10,288 shares of the stock traded hands, compared to its average volume of 28,522. The stock has a market cap of $298.05 million, a P/E ratio of 6.10 and a beta of 0.52. The stock's fifty day moving average is $18.56 and its two-hundred day moving average is $14.77. MarketWise has a 52-week low of $9.07 and a 52-week high of $21.74.

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

Institutional Investors Weigh In On MarketWise

Hedge funds and other institutional investors have recently made changes to their positions in the company. Militia Capital Partners LP purchased a new position in shares of MarketWise during the 1st quarter valued at approximately $35,000. AQR Capital Management LLC lifted its position in shares of MarketWise by 300.5% during the 1st 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. XTX Topco Ltd lifted its position in shares of MarketWise by 172.4% during the 1st quarter. XTX Topco Ltd now owns 122,184 shares of the newsletter publisher's stock valued at $60,000 after buying an additional 77,335 shares in the last quarter. MTM Investment Management LLC lifted its position in shares of MarketWise by 50.5% during the 1st quarter. MTM Investment Management LLC now owns 280,250 shares of the newsletter publisher's stock valued at $142,000 after buying an additional 93,987 shares in the last quarter. Finally, Phraction Management LLC purchased a new position in shares of MarketWise during the 1st quarter valued at approximately $136,000. Institutional investors and hedge funds own 23.04% of the company's stock.

MarketWise Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.