MarketWise (NASDAQ:MKTW) Posts Quarterly Earnings Results, Beats Expectations By $0.99 EPS

MarketWise (NASDAQ:MKTW) posted its earnings results on Thursday. The newsletter publisher reported $0.77 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.99, reports. MarketWise had a net margin of 1.70% and a negative return on equity of 2.62%. The firm had revenue of $83.39 million for the quarter, compared to analysts’ expectations of $70.60 million.

MarketWise Stock Up 2.0%

MarketWise stock traded up $0.30 during midday trading on Friday, reaching $14.94. The stock had a trading volume of 20,280 shares, compared to its average volume of 9,698. The firm has a market cap of $239.47 million, a price-to-earnings ratio of 5.93 and a beta of 0.55. MarketWise has a 52-week low of $9.07 and a 52-week high of $21.74. The company has a fifty day moving average of $15.23 and a 200 day moving average of $15.94.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of MarketWise in a report on Thursday, January 22nd. UBS Group reissued an “outperform” rating on shares of MarketWise in a report on Monday, November 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, MarketWise currently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake 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 buying an additional 91,282 shares during the last quarter. Susquehanna International Group LLP acquired a new position in MarketWise in the third quarter valued at approximately $191,000. Raymond James Financial Inc. purchased a new stake in MarketWise in the 2nd quarter worth approximately $226,000. Vanguard Group Inc. grew its stake 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 worth $1,382,000 after purchasing an additional 10,113 shares during the period. Finally, Barclays PLC grew its stake in shares of MarketWise by 7.0% during the 4th quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock worth $2,293,000 after purchasing an additional 9,961 shares during the period. 23.04% of the stock is currently owned by hedge funds and other institutional investors.

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.