MarketWise (NASDAQ:MKTW) Upgraded by Zacks Investment Research to “Buy”

MarketWise (NASDAQ:MKTWGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $3.00 price target on the newsletter publisher’s stock. Zacks Investment Research‘s price objective points to a potential downside of 0.99% from the stock’s current price.

According to Zacks, “MarketWise LLC provide multi-brand digital subscription services platform. It offers premium financial research, software, education and tools for self-directed investors. MarketWise LLC, formerly known as Ascendant Digital Acquisition Corp., is based in NEW YORK. “

A number of other analysts have also commented on MKTW. Oppenheimer reduced their price target on shares of MarketWise from $10.00 to $5.00 in a research note on Tuesday, May 10th. UBS Group cut their target price on shares of MarketWise from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 14th. Raymond James lowered shares of MarketWise from an “outperform” rating to a “market perform” rating in a research report on Friday, March 25th. JMP Securities cut their target price on shares of MarketWise from $14.00 to $13.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Finally, Wedbush lowered shares of MarketWise from an “outperform” rating to a “neutral” rating and cut their target price for the company from $11.00 to $6.00 in a research report on Friday, March 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $7.94.

Shares of MKTW stock opened at $3.03 on Friday. The company has a 50 day moving average price of $3.46 and a 200-day moving average price of $5.01. MarketWise has a 52 week low of $2.28 and a 52 week high of $16.97.

In other news, major shareholder Frank Porter Stansberry purchased 20,770 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was acquired at an average cost of $2.45 per share, for a total transaction of $50,886.50. Following the completion of the transaction, the insider now directly owns 260,158 shares in the company, valued at approximately $637,387.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in shares of MarketWise in the third quarter worth $43,000. Wolverine Asset Management LLC lifted its holdings in shares of MarketWise by 252.3% in the first quarter. Wolverine Asset Management LLC now owns 11,459 shares of the newsletter publisher’s stock worth $54,000 after buying an additional 8,206 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of MarketWise in the first quarter worth $54,000. UBS Group AG purchased a new position in shares of MarketWise in the third quarter worth $72,000. Finally, Jane Street Group LLC lifted its holdings in shares of MarketWise by 39.7% in the first 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 in the last quarter. 65.75% of the stock is currently owned by hedge funds and other institutional investors.

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.

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