MarketWise, Inc. (NASDAQ:MKTW) Given Consensus Recommendation of “Buy” by Analysts

Shares of MarketWise, Inc. (NASDAQ:MKTWGet Rating) have earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.17.

Several research firms have recently issued reports on MKTW. Needham & Company LLC dropped their price objective on shares of MarketWise from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 11th. Zacks Investment Research lowered shares of MarketWise from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Raymond James lowered shares of MarketWise from an “outperform” rating to a “market perform” rating in a research report on Friday, March 25th. Wedbush lowered shares of MarketWise from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $6.00 in a research report on Friday, March 11th. Finally, UBS Group lowered their price target on shares of MarketWise from $13.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 14th.

In related news, major shareholder Frank Porter Stansberry acquired 31,000 shares of MarketWise stock in a transaction on Wednesday, May 18th. The shares were purchased at an average cost of $2.51 per share, for a total transaction of $77,810.00. Following the purchase, the insider now directly owns 239,388 shares of the company’s stock, valued at approximately $600,863.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds and other institutional investors have recently bought and sold shares of MKTW. Penserra Capital Management LLC bought a new position in MarketWise during the 3rd quarter valued at $43,000. Wolverine Asset Management LLC bought a new position in MarketWise during the 3rd quarter valued at $45,000. Virtu Financial LLC bought a new position in MarketWise during the 1st quarter valued at $54,000. UBS Group AG bought a new position in MarketWise during the 3rd quarter valued at $72,000. Finally, Jane Street Group LLC lifted its position in shares of MarketWise by 39.7% in the 1st quarter. Jane Street Group LLC now owns 18,283 shares of the newsletter publisher’s stock worth $86,000 after buying an additional 5,194 shares during the last quarter. Hedge funds and other institutional investors own 65.75% of the company’s stock.

MarketWise stock opened at $3.20 on Thursday. MarketWise has a 52-week low of $2.28 and a 52-week high of $16.97. The firm has a fifty day moving average of $3.74 and a 200-day moving average of $5.20.

MarketWise Company Profile (Get Rating)

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.

Further Reading

Analyst Recommendations for MarketWise (NASDAQ:MKTW)

Want More Great Investing Ideas?

Receive News & Ratings for MarketWise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketWise and related companies with MarketBeat.com's FREE daily email newsletter.