MarketWise (NASDAQ:MKTW) Shares Gap Down to $1.75

Shares of MarketWise, Inc. (NASDAQ:MKTW) gapped down before the market opened on Tuesday . The stock had previously closed at $1.75, but opened at $1.71. MarketWise shares last traded at $1.72, with a volume of 4,100 shares.

Analyst Upgrades and Downgrades

Separately, UBS Group cut MarketWise from a “buy” rating to a “neutral” rating and increased their target price for the stock from $3.00 to $3.50 in a report on Friday, December 1st.

MarketWise Stock Performance

The company has a market cap of $576.67 million, a P/E ratio of 35.00 and a beta of 0.53. The company has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $2.24.

MarketWise Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Friday, March 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Thursday, March 14th. MarketWise’s payout ratio is 80.00%.

Hedge Funds Weigh In On MarketWise

Hedge funds and other institutional investors have recently bought and sold shares of the business. Heron Bay Capital Management acquired a new position in MarketWise during the fourth quarter worth approximately $65,000. Formidable Asset Management LLC increased its position in MarketWise by 50.3% during the third quarter. Formidable Asset Management LLC now owns 713,822 shares of the newsletter publisher’s stock worth $1,142,000 after buying an additional 239,000 shares during the last quarter. Cannell Capital LLC acquired a new position in MarketWise during the second quarter worth approximately $2,285,000. Quadrature Capital Ltd acquired a new position in MarketWise during the fourth quarter worth approximately $46,000. Finally, Jane Street Group LLC acquired a new position in MarketWise during the third quarter worth approximately $33,000. Institutional investors own 23.04% 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.