Janney Montgomery Scott LLC purchased a new stake in shares of MarketWise, Inc. (NASDAQ:MKTW – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 94,097 shares of the newsletter publisher's stock, valued at approximately $215,000.
Several other large investors have also added to or reduced their stakes in the company. Raymond James & Associates purchased a new position in MarketWise during the third quarter valued at approximately $39,000. State Street Corp lifted its holdings in MarketWise by 204.4% during the second quarter. State Street Corp now owns 274,373 shares of the newsletter publisher's stock valued at $988,000 after purchasing an additional 184,248 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of MarketWise by 12.8% in the second quarter. Renaissance Technologies LLC now owns 100,200 shares of the newsletter publisher's stock worth $361,000 after buying an additional 11,400 shares in the last quarter. American International Group Inc. purchased a new position in shares of MarketWise in the second quarter worth $29,000. Finally, Northern Trust Corp lifted its holdings in shares of MarketWise by 241.1% in the second quarter. Northern Trust Corp now owns 157,973 shares of the newsletter publisher's stock worth $569,000 after buying an additional 111,658 shares in the last quarter. Hedge funds and other institutional investors own 24.21% of the company's stock.
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Insider Transactions at MarketWise
In other MarketWise news, Director Riaan Hodgson acquired 26,149 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was bought at an average cost of $2.13 per share, with a total value of $55,697.37. Following the completion of the purchase, the director now directly owns 121,689 shares in the company, valued at $259,197.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 22.63% of the company's stock.
Analysts Set New Price Targets
MKTW has been the topic of several research analyst reports. JMP Securities lowered their target price on shares of MarketWise from $8.50 to $6.00 and set a "market outperform" rating on the stock in a report on Tuesday, January 10th. Needham & Company LLC reduced their price target on shares of MarketWise from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Monday, November 7th. Finally, UBS Group reduced their price target on shares of MarketWise from $8.00 to $4.50 and set a "buy" rating on the stock in a research report on Tuesday, November 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.
MarketWise Trading Up 8.5 %
MKTW stock opened at $2.43 on Friday. MarketWise, Inc. has a twelve month low of $1.52 and a twelve month high of $6.04. The firm's fifty day simple moving average is $1.92 and its two-hundred day simple moving average is $2.45.
MarketWise (NASDAQ:MKTW – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The newsletter publisher reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.27). The company had revenue of $119.93 million during the quarter, compared to the consensus estimate of $121.00 million. MarketWise had a negative return on equity of 13.34% and a net margin of 4.19%. Analysts anticipate that MarketWise, Inc. will post 0.08 EPS for the current year.
MarketWise Company Profile
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MarketWise, Inc operates a multi-brand platform of subscription businesses that provides financial research, software, education, and tools for investors in the United States and Internationally. The company offers a portfolio of independent investment research, as well as various software and analytical tools on a subscription basis.
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