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

MarketWise, Inc. (NASDAQ:MKTW) Director Frank Porter Stansberry bought 20,000 shares of MarketWise stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $362,400.00. Following the completion of the acquisition, the director directly owned 331,756 shares in the company, valued at $6,011,418.72. This represents a 6.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 acquired 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 stock was acquired at an average cost of $18.99 per share, for a total transaction of $785,711.25.
• On Friday, March 20th, Frank Porter Stansberry bought 17,270 shares of MarketWise stock. The stock was acquired at an average cost of $15.19 per share, for a total transaction of $262,331.30.
• On Thursday, March 19th, Frank Porter Stansberry bought 23,103 shares of MarketWise stock. The stock was acquired at an average cost of $14.28 per share, for a total transaction of $329,910.84.

MarketWise Price Performance

Shares of MKTW opened at $16.77 on Friday. The company has a market capitalization of $262.12 million, a P/E ratio of 10.16 and a beta of 0.25. MarketWise, Inc. has a one year low of $13.49 and a one year high of $21.74. The business’s 50 day simple moving average is $16.89 and its 200-day simple moving average is $16.06.

MarketWise (NASDAQ:MKTW) last announced its earnings results on Thursday, May 7th. The newsletter publisher reported ($0.23) EPS for the quarter. The business had revenue of $77.03 million during the quarter, compared to analyst estimates of $80.74 million. MarketWise had a negative return on equity of 1.86% and a net margin of 1.29%. On average, sell-side analysts anticipate that MarketWise, Inc. will post 2.92 EPS for the current fiscal year.

MarketWise Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Friday, May 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from MarketWise’s previous quarterly dividend of $0.20. MarketWise’s dividend payout ratio (DPR) is presently 60.61%.

Analyst Ratings Changes

Several research firms recently weighed in on MKTW. Wall Street Zen cut shares of MarketWise from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings cut shares of MarketWise from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MKTW. AQR Capital Management LLC raised its position in MarketWise by 300.5% in the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after purchasing an additional 91,282 shares during the last quarter. Russell Investments Group Ltd. bought a new position in MarketWise in the 2nd quarter worth approximately $28,000. Raymond James Financial Inc. bought a new position in MarketWise in the 2nd quarter worth approximately $226,000. MTM Investment Management LLC bought a new position in MarketWise in the 3rd quarter worth approximately $359,000. Finally, Vanguard Group Inc. raised its position in shares of MarketWise by 13.8% during the 3rd quarter. Vanguard Group Inc. now owns 83,627 shares of the newsletter publisher’s stock valued at $1,382,000 after acquiring an additional 10,113 shares during the last quarter. Institutional investors own 23.04% of the company’s stock.

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.