MarketWise (NASDAQ:MKTW) Shares Gap Up After Insider Buying Activity

MarketWise, Inc. (NASDAQ:MKTWGet Rating)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $2.85, but opened at $3.03. MarketWise shares last traded at $3.02, with a volume of 177 shares trading hands.

Specifically, major shareholder Frank Porter Stansberry acquired 660,725 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was bought at an average cost of $2.67 per share, for a total transaction of $1,764,135.75. Following the completion of the purchase, the insider now directly owns 1,085,859 shares in the company, valued at $2,899,243.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 712,495 shares of company stock worth $1,892,832 over the last ninety days. 22.63% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MKTW has been the subject of several analyst reports. Oppenheimer decreased their target price on shares of MarketWise from $10.00 to $5.00 in a research note on Tuesday, May 10th. JMP Securities decreased 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 note on Thursday, April 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.64.

MarketWise Trading Up 5.3 %

The stock’s fifty day simple moving average is $3.20 and its two-hundred day simple moving average is $4.10.

MarketWise (NASDAQ:MKTWGet Rating) last issued its earnings results on Monday, May 9th. The newsletter publisher reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.25. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $118.63 million. Sell-side analysts anticipate that MarketWise, Inc. will post 0.27 EPS for the current fiscal year.

Institutional Trading of MarketWise

A number of large investors have recently modified their holdings of MKTW. Wolverine Asset Management LLC grew its position in MarketWise by 252.3% in the 1st quarter. Wolverine Asset Management LLC now owns 11,459 shares of the newsletter publisher’s stock valued at $54,000 after buying an additional 8,206 shares in the last quarter. Virtu Financial LLC bought a new position in MarketWise in the 1st quarter valued at about $54,000. Jane Street Group LLC boosted its position in shares of MarketWise by 39.7% during the 1st quarter. Jane Street Group LLC now owns 18,283 shares of the newsletter publisher’s stock valued at $86,000 after purchasing an additional 5,194 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of MarketWise during the 4th quarter valued at about $125,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of MarketWise during the 1st quarter valued at about $135,000. Institutional investors and hedge funds own 65.75% 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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