Short Interest in MarketWise, Inc. (NASDAQ:MKTW) Drops By 24.3%

MarketWise, Inc. (NASDAQ:MKTW - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 223,300 shares, a decrease of 24.3% from the March 15th total of 294,800 shares. Based on an average daily trading volume, of 118,200 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.8% of the company's shares are short sold.

MarketWise Price Performance

Shares of MarketWise stock traded down $0.08 during trading hours on Friday, hitting $1.57. The company's stock had a trading volume of 88,543 shares, compared to its average volume of 121,285. MarketWise has a 12 month low of $1.24 and a 12 month high of $3.62. The stock has a 50 day moving average of $1.85 and a 200 day moving average of $2.23. The company has a market capitalization of $517.36 million, a PE ratio of 31.40 and a beta of 0.53.

MarketWise Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders 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 annualized dividend and a dividend yield of 2.55%. MarketWise's dividend payout ratio (DPR) is currently 80.00%.

Institutional Investors Weigh In On MarketWise

Large investors have recently modified their holdings of the business. Allianz Asset Management GmbH bought a new position in shares of MarketWise during the first quarter worth about $1,893,000. Vanguard Group Inc. grew its holdings in shares of MarketWise by 87.8% during the first quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher's stock worth $7,133,000 after buying an additional 706,607 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of MarketWise by 659.0% during the first quarter. Renaissance Technologies LLC now owns 88,800 shares of the newsletter publisher's stock worth $419,000 after buying an additional 77,100 shares in the last quarter. State Street Corp grew its holdings in shares of MarketWise by 9.4% during the first quarter. State Street Corp now owns 90,125 shares of the newsletter publisher's stock worth $425,000 after buying an additional 7,725 shares in the last quarter. Finally, Delphia USA Inc. bought a new position in shares of MarketWise during the first quarter worth about $267,000. 23.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, UBS Group cut their target price on MarketWise from $3.50 to $2.00 and set a "neutral" rating on the stock in a research note on Thursday, March 28th.

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.