MarketWise (NASDAQ:MKTW) Director Frank Porter Stansberry Acquires 3,623 Shares

Key Points

• MarketWise director Frank Porter Stansberry bought 3,623 shares on May 18 at an average price of $16.50, bringing his total direct ownership to 335,390 shares.
• The company recently boosted its quarterly dividend to $0.25 per share from $0.20, implying a 6.1% annualized yield.
• MarketWise reported a quarterly loss of $0.23 per share and revenue of $77.03 million, which fell short of analyst expectations; the stock’s consensus rating remains Hold with a $20 price target.

MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) Director Frank Porter Stansberry purchased 3,623 shares of the company's stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $16.50 per share, with a total value of $59,779.50. Following the completion of the purchase, the director directly owned 335,390 shares in the company, valued at $5,533,935. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, May 15th, Frank Porter Stansberry purchased 11 shares of MarketWise stock. The stock was acquired at an average price of $16.71 per share, with a total value of $183.81.
• On Thursday, May 14th, Frank Porter Stansberry purchased 20,000 shares of MarketWise stock. The stock was acquired at an average price of $18.12 per share, with a total value of $362,400.00.
• On Monday, May 11th, Frank Porter Stansberry purchased 10,000 shares of MarketWise stock. The stock was acquired at an average price of $18.89 per share, with a total value of $188,900.00.
• On Friday, May 8th, Frank Porter Stansberry acquired 41,375 shares of MarketWise stock. The shares were purchased at an average cost of $18.99 per share, for a total transaction of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry acquired 17,270 shares of MarketWise stock. The shares were purchased at an average cost of $15.19 per share, for a total transaction of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry acquired 23,103 shares of MarketWise stock. The shares were purchased at an average cost of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Stock Performance

Shares of MKTW traded down $0.23 during mid-day trading on Tuesday, hitting $16.37. 11,881 shares of the stock were exchanged, compared to its average volume of 35,129. The firm has a 50-day moving average of $16.96 and a two-hundred day moving average of $16.10. MarketWise, Inc. has a 52-week low of $13.49 and a 52-week high of $21.74. The company has a market cap of $255.86 million, a PE ratio of 9.92 and a beta of 0.25.

MarketWise (NASDAQ:MKTW - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share for the quarter. MarketWise had a net margin of 1.29% and a negative return on equity of 1.86%. The company had revenue of $77.03 million for the quarter, compared to analysts' expectations of $80.74 million. On average, sell-side analysts predict that MarketWise, Inc. will post 2.92 EPS for the current year.

MarketWise Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Friday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, May 15th. This is a boost from MarketWise's previous quarterly dividend of $0.20. MarketWise's payout ratio is currently 60.61%.

Hedge Funds Weigh In On MarketWise

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of MarketWise by 36.6% during the 1st quarter. Renaissance Technologies LLC now owns 27,174 shares of the newsletter publisher's stock worth $509,000 after buying an additional 7,275 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of MarketWise by 60.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,047 shares of the newsletter publisher's stock worth $31,000 after buying an additional 773 shares in the last quarter. Barclays PLC grew its position in shares of MarketWise by 7.0% during the 4th quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher's stock worth $2,293,000 after buying an additional 9,961 shares in the last quarter. State Street Corp grew its position in shares of MarketWise by 5.2% during the 4th quarter. State Street Corp now owns 28,737 shares of the newsletter publisher's stock worth $432,000 after buying an additional 1,414 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of MarketWise by 52.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher's stock worth $33,000 after buying an additional 757 shares in the last quarter. Institutional investors own 23.04% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered MarketWise from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. Weiss Ratings lowered MarketWise from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.00.

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.

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