MarketWise (NASDAQ:MKTW) Posts Earnings Results, Misses Estimates By $0.89 EPS

MarketWise (NASDAQ:MKTWGet Free Report) announced its quarterly earnings data on Thursday. The newsletter publisher reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.89), FiscalAI reports. MarketWise had a net margin of 0.70% and a negative return on equity of 1.00%. The business had revenue of $75.81 million during the quarter, compared to analyst estimates of $78.37 million.

MarketWise Stock Performance

MarketWise stock traded down $1.09 during mid-day trading on Friday, reaching $20.25. The stock had a trading volume of 38,009 shares, compared to its average volume of 10,737. The firm has a market capitalization of $316.51 million, a PE ratio of 23.01 and a beta of 0.20. MarketWise has a fifty-two week low of $13.49 and a fifty-two week high of $22.83. The stock’s 50-day simple moving average is $18.66 and its 200-day simple moving average is $17.17.

MarketWise Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, August 19th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, August 19th. MarketWise’s dividend payout ratio (DPR) is 60.61%.

Insider Buying and Selling

In other news, insider Erik Mickels sold 3,973 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $19.14, for a total transaction of $76,043.22. Following the transaction, the insider directly owned 75,091 shares of the company’s stock, valued at $1,437,241.74. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frank Porter Stansberry bought 20,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $17.21 per share, for a total transaction of $345,921.00. Following the completion of the acquisition, the director owned 355,490 shares in the company, valued at $6,117,982.90. This represents a 5.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 63,734 shares of company stock worth $1,135,984 over the last ninety days. 29.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its position in shares of MarketWise by 60.7% during the fourth quarter. Russell Investments Group Ltd. now owns 2,047 shares of the newsletter publisher’s stock worth $31,000 after acquiring an additional 773 shares in the last quarter. Barclays PLC lifted its position in MarketWise by 7.0% in the 4th quarter. Barclays PLC now owns 152,631 shares of the newsletter publisher’s stock valued at $2,293,000 after acquiring an additional 9,961 shares in the last quarter. State Street Corp lifted its position in MarketWise by 5.2% in the 4th quarter. State Street Corp now owns 28,737 shares of the newsletter publisher’s stock valued at $432,000 after acquiring an additional 1,414 shares in the last quarter. Wells Fargo & Company MN boosted its stake in MarketWise by 52.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock valued at $33,000 after purchasing an additional 757 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in MarketWise by 4.7% during the 4th quarter. Renaissance Technologies LLC now owns 19,899 shares of the newsletter publisher’s stock valued at $299,000 after purchasing an additional 900 shares during the last quarter. 23.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on MKTW shares. Wall Street Zen cut MarketWise from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings raised MarketWise from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

Get Our Latest Stock Report on MarketWise

MarketWise Company Profile

(Get Free Report)

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.

See Also

Earnings History for MarketWise (NASDAQ:MKTW)

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