MarketWise (NASDAQ:MKTW) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• MarketWise was downgraded by Wall Street Zen from “buy” to “hold”, while Weiss Ratings reiterated a “sell (d+)” view. Overall, MarketBeat shows the stock with a consensus Hold rating and a $20.00 average price target.
• The company recently reported Q1 earnings of -$0.23 per share on revenue of $77.03 million, which missed the consensus revenue estimate. Despite that, analysts still expect MarketWise to earn 2.92 EPS for the full year.
• Insider activity has been mixed: CFO Erik Mickels sold shares in March, while Director Frank Porter Stansberry bought shares around the same time. Institutional ownership stands at about 23.04%, indicating continued outside investment interest.

MarketWise (NASDAQ:MKTW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of MarketWise in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MarketWise presently has a consensus rating of "Hold" and an average price target of $20.00.

MarketWise Price Performance

MKTW opened at $20.68 on Friday. The company has a 50 day simple moving average of $16.40 and a two-hundred day simple moving average of $15.91. The firm has a market cap of $332.12 million, a P/E ratio of 12.53 and a beta of 0.25. MarketWise has a 1-year low of $13.49 and a 1-year high of $21.74.

MarketWise (NASDAQ:MKTW - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The newsletter publisher reported ($0.23) EPS for the quarter. The firm had revenue of $77.03 million for the quarter, compared to the consensus estimate of $80.74 million. MarketWise had a net margin of 1.29% and a negative return on equity of 1.87%. Equities analysts anticipate that MarketWise will post 2.92 earnings per share for the current year.

Insider Buying and Selling at MarketWise

In other MarketWise news, CFO Erik Mickels sold 6,666 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $14.10, for a total transaction of $93,990.60. Following the completion of the transaction, the chief financial officer owned 88,398 shares of the company's stock, valued at $1,246,411.80. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Porter Stansberry acquired 23,103 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $14.28 per share, with a total value of $329,910.84. Following the transaction, the director owned 233,111 shares of the company's stock, valued at approximately $3,328,825.08. This represents a 11.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 26,000 shares of company stock valued at $377,167 over the last ninety days. 29.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MarketWise

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MKTW. Russell Investments Group Ltd. purchased a new position in MarketWise in the second quarter worth about $28,000. Wells Fargo & Company MN raised its position in MarketWise by 52.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher's stock valued at $33,000 after purchasing an additional 757 shares during the period. AQR Capital Management LLC lifted 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 during the last quarter. Susquehanna International Group LLP bought a new stake in shares of MarketWise in the 3rd quarter valued at approximately $191,000. Finally, Raymond James Financial Inc. purchased a new position in shares of MarketWise in the 2nd quarter worth approximately $226,000. 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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