MarketWise (NASDAQ:MKTW - Free Report) had its target price cut by UBS Group from $3.50 to $2.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the newsletter publisher's stock.
MarketWise Price Performance
NASDAQ:MKTW traded down $0.02 on Thursday, hitting $1.73. 72,928 shares of the company's stock were exchanged, compared to its average volume of 124,651. The firm has a 50-day moving average price of $2.04 and a 200-day moving average price of $2.24. The company has a market cap of $570.09 million, a P/E ratio of 35.20 and a beta of 0.53. MarketWise has a 52 week low of $1.24 and a 52 week high of $3.62.
MarketWise Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Friday, March 15th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.31%. MarketWise's payout ratio is 80.00%.
Institutional Investors Weigh In On MarketWise
Institutional investors and hedge funds have recently modified their holdings of the company. Formidable Asset Management LLC raised its holdings in MarketWise by 50.3% in the 3rd quarter. Formidable Asset Management LLC now owns 713,822 shares of the newsletter publisher's stock valued at $1,142,000 after acquiring an additional 239,000 shares during the period. Heron Bay Capital Management acquired a new stake in shares of MarketWise during the 4th quarter worth approximately $65,000. Cannell Capital LLC acquired a new stake in shares of MarketWise during the 2nd quarter worth approximately $2,285,000. State Street Corp lifted its stake in MarketWise by 204.4% in the 2nd quarter. State Street Corp now owns 274,373 shares of the newsletter publisher's stock valued at $988,000 after purchasing an additional 184,248 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in MarketWise by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 100,200 shares of the newsletter publisher's stock valued at $361,000 after purchasing an additional 11,400 shares during the last quarter. 23.04% of the stock is owned by institutional investors.
About MarketWise
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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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