MarketWise (NASDAQ:MKTW) Raised to Buy at Wall Street Zen

MarketWise (NASDAQ:MKTW) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised MarketWise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

MarketWise Stock Performance

MKTW stock opened at $21.47 on Friday. MarketWise has a 52-week low of $13.49 and a 52-week high of $22.83. The company has a fifty day moving average price of $19.12 and a 200-day moving average price of $17.78. The company has a market capitalization of $338.58 million, a P/E ratio of 25.87 and a beta of 0.28.

MarketWise (NASDAQ:MKTW) last released its quarterly earnings data on Thursday, November 5th. The newsletter publisher reported $0.53 EPS for the quarter, beating the consensus estimate of $0.18 by $0.35. MarketWise had a negative return on equity of 0.96% and a net margin of 0.70%. The company had revenue of $80.09 million for the quarter, compared to analysts’ expectations of $78.36 million. As a group, sell-side analysts forecast that MarketWise will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of MarketWise

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of MarketWise by 36.6% in the first quarter. Renaissance Technologies LLC now owns 27,174 shares of the newsletter publisher’s stock worth $509,000 after acquiring an additional 7,275 shares during the last quarter. Copeland Capital Management LLC increased its holdings in MarketWise by 34.2% during the 3rd quarter. Copeland Capital Management LLC now owns 10,125 shares of the newsletter publisher’s stock worth $200,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in MarketWise by 7.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,939 shares of the newsletter publisher’s stock worth $157,000 after buying an additional 569 shares during the period. 23.04% of the stock is owned by institutional investors and hedge funds.

About MarketWise

MarketWise, Inc is a digital subscription-based financial research and education company. It provides individual investors with investment research, market analysis, trading ideas, educational content and portfolio-management tools designed to support self-directed investing.

The company operates a portfolio of financial media and research brands, including Stansberry Research, InvestorPlace, Empire Financial Research, Chaikin Analytics and TradeSmith. Its offerings generally include newsletters, analyst research, market commentary, trading and investing courses, software tools, and premium subscription services covering stocks, options, cryptocurrencies and other investment topics.

MarketWise distributes its products primarily through digital channels, including websites, email, online publications and subscription platforms, serving customers in the United States and other international markets.