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MarketWise (NASDAQ:MKTW) Shares Gap Down to $2.02

Financial News Live · Jan 13, 2023 12:21

MarketWise, Inc. (NASDAQ:MKTW – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $2.02, but opened at $1.96. MarketWise shares last traded at $2.02, with a volume of 205 shares trading hands.

Analyst Upgrades and Downgrades

MKTW has been the subject of several research analyst reports. Needham & Company LLC cut their price target on MarketWise from $5.00 to $3.00 and set a "buy" rating for the company in a report on Monday, November 7th. JMP Securities cut their price target on MarketWise from $8.50 to $6.00 and set a "market outperform" rating for the company in a report on Tuesday. Finally, UBS Group cut their price target on MarketWise from $8.00 to $4.50 and set a "buy" rating for the company in a report on Tuesday, November 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.00.

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MarketWise Stock Down 2.0 %

The stock has a fifty day moving average price of $1.93 and a 200 day moving average price of $2.54.

MarketWise (NASDAQ:MKTW – Get Rating) last announced its 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). MarketWise had a negative return on equity of 13.34% and a net margin of 4.19%. The company had revenue of $119.93 million during the quarter, compared to analysts' expectations of $121.00 million. As a group, research analysts forecast that MarketWise, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at MarketWise

In other MarketWise news, Director Riaan Hodgson acquired 26,149 shares of the company's stock in a transaction that occurred on Tuesday, November 8th. The stock was bought at an average price of $2.13 per share, for a total transaction of $55,697.37. Following the acquisition, the director now directly owns 121,689 shares in the company, valued at $259,197.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On MarketWise

A number of large investors have recently bought and sold shares of the business. Phraction Management LLC bought a new stake in MarketWise during the 2nd quarter valued at $413,000. JPMorgan Chase & Co. raised its position in MarketWise by 1,238.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,102 shares of the newsletter publisher's stock valued at $33,000 after purchasing an additional 8,422 shares in the last quarter. American International Group Inc. bought a new stake in MarketWise during the 2nd quarter valued at $29,000. Alliancebernstein L.P. bought a new stake in MarketWise during the 3rd quarter valued at $26,000. Finally, Greenhaven Road Investment Management L.P. raised its position in MarketWise by 74.2% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 4,355,844 shares of the newsletter publisher's stock valued at $9,931,000 after purchasing an additional 1,855,844 shares in the last quarter. Hedge funds and other institutional investors own 24.21% of the company's stock.

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.