MarketWise (NASDAQ:MKTW) Stock Price Down 5.2%

MarketWise, Inc. (NASDAQ:MKTW)’s stock price dropped 5.2% on Wednesday . The stock traded as low as $1.63 and last traded at $1.63. Approximately 109,053 shares changed hands during trading, a decline of 8% from the average daily volume of 118,029 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Separately, UBS Group lowered their price target on shares of MarketWise from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, March 28th.

MarketWise Price Performance

The firm has a market cap of $530.54 million, a PE ratio of 32.20 and a beta of 0.53. The firm’s fifty day simple moving average is $1.75 and its two-hundred day simple moving average is $2.23.

MarketWise Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Friday, March 15th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, March 14th. MarketWise’s dividend payout ratio (DPR) is presently 80.00%.

Hedge Funds Weigh In On MarketWise

Several hedge funds have recently modified their holdings of MKTW. Formidable Asset Management LLC lifted its holdings in shares of MarketWise by 50.3% in 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 in the last quarter. Penn Mutual Asset Management LLC purchased a new position in shares of MarketWise in the fourth quarter worth $207,000. MTM Investment Management LLC purchased a new position in shares of MarketWise in the first quarter worth $43,000. Heron Bay Capital Management purchased a new position in shares of MarketWise in the fourth quarter worth $65,000. Finally, Quadrature Capital Ltd purchased a new position in shares of MarketWise in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 23.04% of the company’s stock.

MarketWise Company Profile

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.