MarketWise (NASDAQ:MKTW) Shares Gap Down to $2.02

MarketWise, Inc. (NASDAQ:MKTW – Get Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $2.02, but opened at $1.96. MarketWise shares last traded at $2.02, with a volume of 205 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKTW. Needham & Company LLC reduced their price target on MarketWise from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, November 7th. JMP Securities dropped their price objective on MarketWise from $8.50 to $6.00 and set a “market outperform” rating for the company in a report on Tuesday, January 10th. Finally, UBS Group dropped their price objective on MarketWise from $8.00 to $4.50 and set a “buy” rating for the company in a report on Tuesday, November 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

MarketWise Trading Down 0.5 %

The business has a fifty day moving average price of $1.93 and a 200 day moving average price of $2.52.

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

Insider Transactions at MarketWise

In other news, Director Riaan Hodgson bought 26,149 shares of the stock in a transaction on Tuesday, November 8th. The stock was acquired at an average price of $2.13 per share, with a total value of $55,697.37. Following the acquisition, the director now directly owns 121,689 shares in the company, valued at $259,197.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Greenhaven Road Investment Management L.P. raised its stake in MarketWise by 74.2% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 4,355,844 shares of the newsletter publisher’s stock worth $9,931,000 after buying an additional 1,855,844 shares during the period. Jane Street Group LLC acquired a new position in MarketWise during the 3rd quarter worth approximately $33,000. Alliancebernstein L.P. acquired a new position in MarketWise during the 3rd quarter worth approximately $26,000. State Street Corp raised its stake in MarketWise by 7.2% during the 3rd quarter. State Street Corp now owns 294,265 shares of the newsletter publisher’s stock worth $671,000 after buying an additional 19,892 shares during the period. Finally, Eschler Asset Management LLP raised its stake in MarketWise by 6.1% during the 3rd quarter. Eschler Asset Management LLP now owns 110,851 shares of the newsletter publisher’s stock worth $253,000 after buying an additional 6,375 shares during the period. 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.