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.
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.
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.
- Get a free copy of the StockNews.com research report on MarketWise (MKTW)
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