MarketWise (NASDAQ:MKTW) Trading 5.2% Higher

MarketWise, Inc. (NASDAQ:MKTW)’s share price traded up 5.2% during trading on Tuesday . The stock traded as high as $1.64 and last traded at $1.61. 72,949 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 97,313 shares. The stock had previously closed at $1.53.

Analyst Ratings Changes

Several research firms have recently weighed in on MKTW. JMP Securities restated a “market outperform” rating and set a $5.50 price objective on shares of MarketWise in a research report on Friday, June 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of MarketWise in a report on Friday, August 11th.

MarketWise Price Performance

The stock has a 50 day moving average of $1.73 and a two-hundred day moving average of $1.86.

MarketWise Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, September 5th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, September 1st.

Insider Activity

In other MarketWise news, major shareholder Frank Porter Stansberry sold 217,106 shares of MarketWise stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1.58, for a total transaction of $343,027.48. Following the transaction, the insider now directly owns 2,851,014 shares in the company, valued at approximately $4,504,602.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Amber Lee Mason purchased 19,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $1.70 per share, for a total transaction of $32,300.00. Following the completion of the acquisition, the chief executive officer now owns 19,000 shares in the company, valued at approximately $32,300. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Frank Porter Stansberry sold 217,106 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1.58, for a total transaction of $343,027.48. Following the completion of the transaction, the insider now owns 2,851,014 shares in the company, valued at approximately $4,504,602.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 40,085 shares of company stock worth $63,356 and have sold 399,089 shares worth $601,023. 13.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On MarketWise

A number of institutional investors have recently modified their holdings of MKTW. American International Group Inc. acquired a new position in shares of MarketWise in the second quarter worth $29,000. JPMorgan Chase & Co. increased its position in MarketWise by 1,238.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,102 shares of the newsletter publisher’s stock worth $33,000 after purchasing an additional 8,422 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of MarketWise during the 3rd quarter worth about $26,000. Virtu Financial LLC acquired a new stake in shares of MarketWise during the 1st quarter valued at about $54,000. Finally, Jane Street Group LLC bought a new stake in shares of MarketWise in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 29.26% of the company’s stock.

About MarketWise

MarketWise, Inc operates a content and technology multi-brand platform for self-directed investors in the United States and Internationally. Its platform includes subscription businesses that provides financial research, software, education, and tools to navigate the financial markets. The company offers various investment strategies, such as value investing, income, growth, commodities, cryptocurrencies, venture, crowdfunded investing, biotechnology, mutual funds, options, and trading; investment research product portfolio through a range of media, including desktops, laptops, tablets, and mobile; and financial newsletters.