MarketWise (NASDAQ:MKTW) PT Lowered to $6.00

MarketWise (NASDAQ:MKTW – Get Rating) had its price target cut by JMP Securities from $8.50 to $6.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a market outperform rating on the newsletter publisher’s stock.

Several other research analysts have also weighed in on MKTW. UBS Group dropped their price target on MarketWise from $8.00 to $4.50 and set a buy rating on the stock in a research report on Tuesday, November 15th. Needham & Company LLC dropped their price target on MarketWise from $5.00 to $3.00 and set a buy rating on the stock in a research report on Monday, November 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $5.00.

MarketWise Stock Up 5.2 %

Shares of MarketWise stock opened at $1.81 on Tuesday. The stock’s fifty day moving average is $1.94 and its 200-day moving average is $2.55. MarketWise has a 12-month low of $1.52 and a 12-month high of $6.93.

MarketWise (NASDAQ:MKTW – Get Rating) last announced its earnings results on Thursday, November 3rd. The newsletter publisher reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.27). The company had revenue of $119.93 million for the quarter, compared to analyst estimates of $121.00 million. MarketWise had a negative return on equity of 13.34% and a net margin of 4.19%. As a group, sell-side analysts predict that MarketWise will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Riaan Hodgson bought 26,149 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were bought at an average cost of $2.13 per share, with a total value of $55,697.37. Following the transaction, the director now directly owns 121,689 shares in the company, valued at approximately $259,197.57. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MKTW. Allianz Asset Management GmbH acquired a new position in MarketWise in the 1st quarter worth about $1,893,000. Vanguard Group Inc. boosted its stake in shares of MarketWise by 87.8% during the 1st quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher’s stock worth $7,133,000 after acquiring an additional 706,607 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of MarketWise by 659.0% during the 1st quarter. Renaissance Technologies LLC now owns 88,800 shares of the newsletter publisher’s stock worth $419,000 after acquiring an additional 77,100 shares in the last quarter. State Street Corp boosted its stake in shares of MarketWise by 9.4% during the 1st quarter. State Street Corp now owns 90,125 shares of the newsletter publisher’s stock worth $425,000 after acquiring an additional 7,725 shares in the last quarter. Finally, Delphia USA Inc. bought a new stake in shares of MarketWise during the 1st quarter worth about $267,000. 24.21% of the stock is owned by institutional investors and hedge funds.

About MarketWise

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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.