MarketWise (NASDAQ:MKTW) Director Frank Porter Stansberry Buys 10,000 Shares

Key Points

• MarketWise Director Frank Porter Stansberry bought 10,000 shares on May 22 at an average price of $17.88, worth $178,800. After the purchase, he owned 365,490 shares valued at about $6.53 million.
• Stansberry has been actively buying shares over recent weeks, with multiple purchases in May and March that significantly increased his stake in the company.
• MarketWise recently raised its quarterly dividend to $0.25 per share from $0.20, which implies a 5.8% annualized yield. Analysts currently have a consensus rating of Hold with a $20 price target.

MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) Director Frank Porter Stansberry purchased 10,000 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $17.88 per share, with a total value of $178,800.00. Following the acquisition, the director directly owned 365,490 shares in the company, valued at approximately $6,534,961.20. This represents a 2.81% increase in their ownership of the stock. The transaction 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 Wednesday, May 20th, Frank Porter Stansberry purchased 20,100 shares of MarketWise stock. The stock was bought at an average price of $17.21 per share, with a total value of $345,921.00.
• On Monday, May 18th, Frank Porter Stansberry purchased 3,623 shares of MarketWise stock. The stock was bought at an average price of $16.50 per share, with a total value of $59,779.50.
• On Friday, May 15th, Frank Porter Stansberry purchased 11 shares of MarketWise stock. The stock was bought 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 bought at an average price of $18.12 per share, with a total value of $362,400.00.
• On Monday, May 11th, Frank Porter Stansberry bought 10,000 shares of MarketWise stock. The shares were 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 bought 41,375 shares of MarketWise stock. The shares were acquired at an average price of $18.99 per share, with a total value of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The shares were acquired at an average price of $15.19 per share, with a total value of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry bought 23,103 shares of MarketWise stock. The shares were acquired at an average price of $14.28 per share, with a total value of $329,910.84.

MarketWise Stock Performance

NASDAQ:MKTW traded down $0.76 during mid-day trading on Tuesday, hitting $17.23. 23,821 shares of the company's stock traded hands, compared to its average volume of 29,395. The firm's 50 day simple moving average is $17.24 and its 200 day simple moving average is $16.13. MarketWise, Inc. has a 1 year low of $13.49 and a 1 year high of $21.74. The company has a market cap of $269.30 million, a PE ratio of 10.44 and a beta of 0.25.

MarketWise (NASDAQ:MKTW - Get Free Report) last posted its 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 business had revenue of $77.03 million for the quarter, compared to analysts' expectations of $80.74 million. On average, research analysts expect that MarketWise, Inc. will post 2.92 earnings per share for the current fiscal year.

MarketWise Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.25 per share. This is an increase from MarketWise's previous quarterly dividend of $0.20. The ex-dividend date is Friday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.8%. MarketWise's payout ratio is 60.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MKTW shares. Wall Street Zen downgraded shares of MarketWise from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. Weiss Ratings downgraded shares of MarketWise from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $20.00.

Institutional Investors Weigh In On MarketWise

A number of hedge funds and other institutional investors have recently modified their holdings of MKTW. Russell Investments Group Ltd. purchased a new stake in shares of MarketWise during the second quarter worth about $28,000. Wells Fargo & Company MN grew its holdings in shares of MarketWise by 52.5% during the fourth 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. AQR Capital Management LLC grew its holdings 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 in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of MarketWise during the third quarter worth about $191,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of MarketWise during the second quarter worth about $226,000. 23.04% of the stock is currently owned by hedge funds and other 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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