MarketWise, Inc. (NASDAQ:MKTW – Get Rating) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 625,600 shares, a decrease of 18.8% from the November 30th total of 770,900 shares. Based on an average trading volume of 153,700 shares, the days-to-cover ratio is currently 4.1 days. Currently, 3.0% of the company's shares are sold short.
Insider Buying and Selling at MarketWise
In other MarketWise news, Director Riaan Hodgson acquired 26,149 shares of the business's stock in a transaction on Tuesday, November 8th. The shares were bought at an average price of $2.13 per share, with a total value of $55,697.37. Following the transaction, the director now directly owns 121,689 shares of the company's stock, valued at approximately $259,197.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 22.63% of the stock is currently owned by corporate insiders.
Get MarketWise alerts:Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of MKTW. Greenhaven Road Investment Management L.P. grew its holdings in MarketWise by 74.2% during the third quarter. Greenhaven Road Investment Management L.P. now owns 4,355,844 shares of the newsletter publisher's stock worth $9,931,000 after acquiring an additional 1,855,844 shares during the period. Jane Street Group LLC acquired a new stake in MarketWise during the third quarter worth about $33,000. Alliancebernstein L.P. acquired a new stake in MarketWise during the third quarter worth about $26,000. State Street Corp grew its holdings in MarketWise by 7.2% during the third quarter. State Street Corp now owns 294,265 shares of the newsletter publisher's stock worth $671,000 after acquiring an additional 19,892 shares during the period. Finally, Eschler Asset Management LLP grew its holdings in MarketWise by 6.1% during the third quarter. Eschler Asset Management LLP now owns 110,851 shares of the newsletter publisher's stock worth $253,000 after acquiring an additional 6,375 shares during the period. 24.21% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have weighed in on MKTW. UBS Group lowered their target price on MarketWise from $8.00 to $4.50 and set a "buy" rating for the company in a report on Tuesday, November 15th. Needham & Company LLC decreased their price objective on MarketWise from $5.00 to $3.00 and set a "buy" rating for the company in a research note on Monday, November 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.42.MarketWise Trading Down 0.6 %
MarketWise stock opened at $1.68 on Tuesday. The stock has a 50-day moving average of $2.03 and a two-hundred day moving average of $2.64. MarketWise has a one year low of $1.52 and a one year high of $7.62.
MarketWise (NASDAQ:MKTW – Get Rating) last announced 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%. As a group, sell-side analysts forecast that MarketWise will post 0.08 earnings per share 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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