MarketWise, Inc. (NASDAQ:MKTW – Get Rating) shares gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $2.85, but opened at $3.03. MarketWise shares last traded at $3.02, with a volume of 177 shares. Specifically, major shareholder Frank Porter Stansberry acquired 20,770 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were bought at an average price of $2.45 per share, for a total transaction of $50,886.50. Following the completion of the transaction, the insider now owns 260,158 shares of the company’s stock, valued at approximately $637,387.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have acquired 712,495 shares of company stock worth $1,892,832. Corporate insiders own 22.63% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on MKTW. JMP Securities reduced their target price on MarketWise from $14.00 to $13.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 7th. Oppenheimer reduced their target price on MarketWise from $10.00 to $5.00 in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, MarketWise currently has an average rating of “Moderate Buy” and a consensus target price of $7.42.
MarketWise Stock Performance
The stock has a 50 day moving average price of $3.20 and a 200-day moving average price of $4.09.
MarketWise (NASDAQ:MKTW – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The newsletter publisher reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.25. The company had revenue of $136.80 million for the quarter, compared to the consensus estimate of $118.63 million. On average, sell-side analysts anticipate that MarketWise, Inc. will post 0.27 EPS for the current fiscal year.
Institutional Trading of MarketWise
Several large investors have recently modified their holdings of MKTW. Phraction Management LLC purchased a new stake in MarketWise in the fourth quarter worth about $677,000. Royce & Associates LP lifted its holdings in shares of MarketWise by 272.8% during the fourth quarter. Royce & Associates LP now owns 186,400 shares of the newsletter publisher’s stock valued at $1,405,000 after purchasing an additional 136,400 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of MarketWise during the fourth quarter valued at approximately $125,000. Divisadero Street Capital Management LP purchased a new position in shares of MarketWise during the fourth quarter valued at approximately $3,290,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of MarketWise by 44.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,468,900 shares of the newsletter publisher’s stock valued at $11,076,000 after purchasing an additional 452,300 shares during the last quarter. 65.75% of the stock is owned by institutional investors.
About MarketWise
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.