MarketWise, Inc. (NASDAQ:MKTW) Major Shareholder Acquires $94,938.72 in Stock

MarketWise, Inc. (NASDAQ:MKTWGet Rating) major shareholder Frank Porter Stansberry acquired 38,128 shares of MarketWise stock in a transaction on Wednesday, September 14th. The stock was acquired at an average price of $2.49 per share, with a total value of $94,938.72. Following the purchase, the insider now directly owns 1,570,414 shares in the company, valued at $3,910,330.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Frank Porter Stansberry also recently made the following trade(s):

  • On Wednesday, September 7th, Frank Porter Stansberry purchased 81,279 shares of MarketWise stock. The shares were purchased at an average price of $2.55 per share, with a total value of $207,261.45.
  • On Friday, July 29th, Frank Porter Stansberry purchased 7,617 shares of MarketWise stock. The shares were purchased at an average price of $2.67 per share, with a total value of $20,337.39.
  • On Wednesday, July 27th, Frank Porter Stansberry purchased 660,725 shares of MarketWise stock. The shares were purchased at an average price of $2.67 per share, with a total value of $1,764,135.75.

MarketWise Stock Performance

Shares of NASDAQ MKTW opened at $2.43 on Friday. MarketWise, Inc. has a 52 week low of $2.28 and a 52 week high of $9.41. The business has a 50-day simple moving average of $3.02 and a two-hundred day simple moving average of $3.52.

MarketWise (NASDAQ:MKTWGet Rating) last issued its earnings results on Monday, August 8th. The newsletter publisher reported $0.53 EPS for the quarter, topping the consensus estimate of $0.05 by $0.48. The company had revenue of $128.01 million during the quarter, compared to the consensus estimate of $135.50 million. On average, equities research analysts expect that MarketWise, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sciencast Management LP bought a new position in MarketWise in the 1st quarter worth about $261,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of MarketWise by 44.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,468,900 shares of the newsletter publisher’s stock valued at $11,076,000 after acquiring an additional 452,300 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of MarketWise in the 4th quarter valued at about $3,290,000. Royce & Associates LP raised its holdings in shares of MarketWise by 13.4% in the 1st quarter. Royce & Associates LP now owns 211,400 shares of the newsletter publisher’s stock valued at $998,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of MarketWise in the 1st quarter valued at about $135,000. Institutional investors own 3.38% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities cut their price target on MarketWise from $10.00 to $8.50 and set a “market outperform” rating for the company in a research note on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

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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