MarketWise (NASDAQ:MKTW – Get Rating) had its target price cut by JMP Securities from $8.50 to $6.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the newsletter publisher's stock.
A number of other brokerages have also recently issued reports on MKTW. Needham & Company LLC dropped their price objective on MarketWise from $5.00 to $3.00 and set a buy rating on the stock in a research note on Monday, November 7th. UBS Group dropped their price objective on MarketWise from $8.00 to $4.50 and set a buy rating on the stock in a research note on Tuesday, November 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $5.00.
Get MarketWise alerts:MarketWise Stock Performance
NASDAQ MKTW opened at $2.01 on Tuesday. The stock's 50 day moving average price is $1.93 and its two-hundred day moving average price is $2.53. MarketWise has a 52 week low of $1.52 and a 52 week high of $6.32.
MarketWise (NASDAQ:MKTW – Get Rating) last released its earnings results on Thursday, November 3rd. The newsletter publisher reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.27). The firm had revenue of $119.93 million during the quarter, compared to the consensus estimate of $121.00 million. MarketWise had a net margin of 4.19% and a negative return on equity of 13.34%. Analysts anticipate that MarketWise will post 0.08 earnings per share for the current year.Insider Transactions at MarketWise
In other MarketWise news, Director Riaan Hodgson purchased 26,149 shares of the company's stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average price of $2.13 per share, for a total transaction of $55,697.37. Following the purchase, the director now 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 at the SEC website. Company insiders own 22.63% of the company's stock.
Institutional Investors Weigh In On MarketWise
A number of large investors have recently added to or reduced their stakes in the business. Greenhaven Road Investment Management L.P. raised its stake in MarketWise by 74.2% in 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 acquiring an additional 1,855,844 shares during the period. Vanguard Group Inc. grew its holdings in MarketWise by 87.8% in the 1st quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher's stock valued at $7,133,000 after buying an additional 706,607 shares in the last quarter. Royce & Associates LP grew its holdings in MarketWise by 473.0% in the 3rd quarter. Royce & Associates LP now owns 1,211,400 shares of the newsletter publisher's stock valued at $2,762,000 after buying an additional 1,000,000 shares in the last quarter. BlackRock Inc. grew its holdings in MarketWise by 8.2% in the 3rd quarter. BlackRock Inc. now owns 816,088 shares of the newsletter publisher's stock valued at $1,861,000 after buying an additional 61,740 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in MarketWise in the 1st quarter valued at $1,893,000. 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.
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