MarketWise, Inc. (NASDAQ:MKTW – Get Rating) shares were up 5.8% during mid-day trading on Friday . The company traded as high as $2.41 and last traded at $2.37. Approximately 4,355 shares traded hands during trading, a decline of 94% from the average daily volume of 75,698 shares. The stock had previously closed at $2.24.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on MKTW shares. JMP Securities cut their target price on shares of MarketWise from $8.50 to $6.00 and set a "market outperform" rating for the company in a research report on Tuesday, January 10th. UBS Group cut their target price on shares of MarketWise from $8.00 to $4.50 and set a "buy" rating for the company in a research report on Tuesday, November 15th. Finally, Needham & Company LLC cut their target price on shares of MarketWise from $5.00 to $3.00 and set a "buy" rating for the company in a research report on Monday, November 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, MarketWise presently has an average rating of "Moderate Buy" and a consensus target price of $5.00.
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MarketWise Price Performance
The business's 50-day moving average price is $1.92 and its two-hundred day moving average price is $2.44.
MarketWise (NASDAQ:MKTW – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The newsletter publisher reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.27). The firm had revenue of $119.93 million during the quarter, compared to analyst estimates of $121.00 million. MarketWise had a net
margin of 4.19% and a negative return on equity of 13.34%. Analysts forecast that MarketWise, Inc. will post 0.08 EPS for the current year.
Insider Activity
In other news, Director Riaan Hodgson acquired 26,149 shares of the business's stock in a transaction dated Tuesday, November 8th. The stock was acquired at an average price of $2.13 per share, with a total value of $55,697.37. Following the completion of the transaction, the director now directly owns 121,689 shares in the company, valued at approximately $259,197.57. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 22.63% of the company's stock.
Hedge Funds Weigh In On MarketWise
Several institutional investors and hedge funds have recently bought and sold shares of MKTW. Alliancebernstein L.P. acquired a new position in MarketWise during the third quarter worth approximately $26,000. American International Group Inc. acquired a new position in MarketWise during the second quarter worth approximately $29,000. Jump Financial LLC acquired a new position in MarketWise during the third quarter worth approximately $32,000. JPMorgan Chase & Co. grew its stake in MarketWise by 1,238.5% during the second quarter. JPMorgan Chase & Co. now owns 9,102 shares of the newsletter publisher's stock worth $33,000 after buying an additional 8,422 shares during the period. Finally, Jane Street Group LLC purchased a new stake in MarketWise during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 24.21% of the company's stock.
About MarketWise
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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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