Frank Porter Stansberry Buys 20,000 Shares of MarketWise (NASDAQ:MKTW) Stock

by · The Cerbat Gem

MarketWise, Inc. (NASDAQ:MKTW – Get Free Report) Director Frank Porter Stansberry acquired 20,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $18.12 per share, with a total value of $362,400.00. Following the transaction, the director owned 331,756 shares in the company, valued at approximately $6,011,418.72. This trade represents a 6.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

MarketWise Stock Performance

Shares of NASDAQ MKTW traded down $0.95 during trading on Thursday, hitting $17.27. The company had a trading volume of 115,266 shares, compared to its average volume of 31,336. MarketWise, Inc. has a 12 month low of $13.49 and a 12 month high of $21.74. The firm has a market capitalization of $277.36 million, a P/E ratio of 10.47 and a beta of 0.25. The stock has a 50 day simple moving average of $16.85 and a 200 day simple moving average of $16.05.

MarketWise (NASDAQ:MKTW – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) earnings per share for the quarter. The firm had revenue of $77.03 million during the quarter, compared to the consensus estimate of $80.74 million. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%. As a group, analysts predict that MarketWise, Inc. will post 2.92 EPS for the current year.

MarketWise Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, May 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, May 15th. This is a boost from MarketWise’s previous quarterly dividend of $0.20. MarketWise’s dividend payout ratio (DPR) is currently 60.61%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in MarketWise during the 2nd quarter valued at approximately $28,000. Wells Fargo & Company MN raised its holdings 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 acquiring an additional 757 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of MarketWise by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock valued at $60,000 after acquiring an additional 91,282 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of MarketWise in the third quarter valued at $191,000. Finally, Raymond James Financial Inc. purchased a new position in shares of MarketWise in the second quarter valued at $226,000. Hedge funds and other institutional investors own 23.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MKTW. Wall Street Zen lowered MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings downgraded MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Get Our Latest Research Report on MKTW

MarketWise Company Profile

(Get Free Report)

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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