MarketWise (NASDAQ:MKTW) Price Target Cut to $2.00

MarketWise (NASDAQ:MKTW) had its target price lowered by equities researchers at UBS Group from $3.50 to $2.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the newsletter publisher’s stock. UBS Group’s price target suggests a potential upside of 13.64% from the stock’s current price.

MarketWise Price Performance

MarketWise stock traded up $0.01 during mid-day trading on Thursday, reaching $1.76. 25,991 shares of the company traded hands, compared to its average volume of 123,842. The firm’s fifty day moving average is $2.04 and its two-hundred day moving average is $2.24. The company has a market capitalization of $579.97 million, a price-to-earnings ratio of 35.00 and a beta of 0.53. MarketWise has a fifty-two week low of $1.24 and a fifty-two week high of $3.62.

Institutional Trading of MarketWise

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of MarketWise by 98.7% during the second quarter. BlackRock Inc. now owns 1,678,754 shares of the newsletter publisher’s stock worth $3,358,000 after purchasing an additional 833,794 shares in the last quarter. 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. Cannell Capital LLC acquired a new stake in shares of MarketWise in the second quarter valued at about $2,285,000. Formidable Asset Management LLC lifted its stake in shares of MarketWise by 50.3% in the third quarter. Formidable Asset Management LLC now owns 713,822 shares of the newsletter publisher’s stock worth $1,142,000 after buying an additional 239,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in MarketWise by 65.7% during the second quarter. Geode Capital Management LLC now owns 555,049 shares of the newsletter publisher’s stock worth $1,110,000 after acquiring an additional 220,087 shares during the last quarter. 23.04% of the stock is currently owned by hedge funds and other institutional investors.

MarketWise Company Profile

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.