Insider Selling: MarketWise (NASDAQ:MKTW) CFO Sells 6,666 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) CFO Erik Mickels sold 6,666 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $14.73, for a total value of $98,190.18. Following the completion of the transaction, the chief financial officer directly owned 56,437 shares in the company, valued at approximately $831,317.01. This represents a 10.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Erik Mickels also recently made the following trade(s):

• On Tuesday, March 10th, Erik Mickels sold 3,334 shares of MarketWise stock. The stock was sold at an average price of $15.20, for a total value of $50,676.80.

MarketWise Stock Down 2.7%

Shares of MarketWise stock traded down $0.41 during trading on Thursday, reaching $14.50. The company’s stock had a trading volume of 13,935 shares, compared to its average volume of 11,124. The business’s 50-day moving average price is $15.26 and its 200-day moving average price is $15.84. MarketWise, Inc. has a 52 week low of $9.07 and a 52 week high of $21.74. The firm has a market cap of $232.42 million, a PE ratio of 6.33 and a beta of 0.55.

MarketWise (NASDAQ:MKTW) last released its quarterly earnings results on Friday, March 6th. The newsletter publisher reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.99. MarketWise had a net margin of 1.71% and a negative return on equity of 2.54%. The business had revenue of $83.39 million for the quarter, compared to analyst estimates of $70.60 million.

MarketWise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.80 annualized dividend and a dividend yield of 5.5%. MarketWise’s dividend payout ratio (DPR) is currently 43.67%.

Hedge Funds Weigh In On MarketWise

Several hedge funds and other institutional investors have recently made changes to their positions in MKTW. Russell Investments Group Ltd. bought a new stake in shares of MarketWise during the 2nd quarter worth approximately $28,000. Wells Fargo & Company MN increased its stake in MarketWise by 52.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock valued at $33,000 after acquiring an additional 757 shares during the last quarter. AQR Capital Management LLC increased its stake in MarketWise by 300.5% in the first 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 acquired a new position in MarketWise during the third quarter valued at approximately $191,000. Finally, Raymond James Financial Inc. acquired a new position in MarketWise during the second quarter valued at approximately $226,000. 23.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MKTW. Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketWise in a research note on Thursday, January 22nd. UBS Group reaffirmed an “outperform” rating on shares of MarketWise in a report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.00.

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.