MarketWise, Inc. (NASDAQ:MKTW) Short Interest Update

MarketWise, Inc. (NASDAQ:MKTW) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 33,872 shares, a growth of 20.4% from the February 26th total of 28,122 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 17,365 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of MarketWise in a research report on Thursday, January 22nd. One research 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, MarketWise has a consensus rating of “Hold” and a consensus target price of $20.00.

MarketWise Stock Performance

NASDAQ MKTW traded down $0.72 during trading hours on Tuesday, hitting $18.72. 21,939 shares of the company’s stock were exchanged, compared to its average volume of 16,781. The business’s 50 day moving average is $15.40 and its 200-day moving average is $15.64. MarketWise has a 12-month low of $9.07 and a 12-month high of $21.74. The firm has a market capitalization of $300.64 million, a P/E ratio of 8.17 and a beta of 0.55.

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

MarketWise Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, March 18th. MarketWise’s payout ratio is presently 43.67%.

Insiders Place Their Bets

In related news, CFO Erik Mickels sold 6,666 shares of MarketWise stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $14.10, for a total transaction of $93,990.60. Following the completion of the sale, the chief financial officer owned 88,398 shares in the company, valued at approximately $1,246,411.80. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Porter Stansberry bought 23,103 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of $14.28 per share, with a total value of $329,910.84. Following the purchase, the director directly owned 233,111 shares in the company, valued at $3,328,825.08. The trade was a 11.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 26,000 shares of company stock valued at $377,167. Insiders own 29.25% of the company’s stock.

Hedge Funds Weigh In On MarketWise

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in shares of MarketWise in the 2nd quarter valued at $28,000. Wells Fargo & Company MN raised its position in shares of MarketWise by 52.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock worth $33,000 after buying an additional 757 shares during the period. AQR Capital Management LLC boosted its holdings 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 in the third quarter valued at $191,000. Finally, Raymond James Financial Inc. purchased a new stake in MarketWise during the second quarter valued at about $226,000. Hedge funds and other institutional investors own 23.04% of the company’s stock.

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.