Erik Mickels Sells 6,000 Shares of MarketWise (NASDAQ:MKTW) Stock

MarketWise, Inc. (NASDAQ:MKTW) CFO Erik Mickels sold 6,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.70, for a total value of $88,200.00. Following the completion of the transaction, the chief financial officer owned 79,064 shares in the company, valued at $1,162,240.80. This represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Erik Mickels also recently made the following trade(s):

• On Thursday, March 19th, Erik Mickels sold 3,334 shares of MarketWise stock. The shares were sold at an average price of $13.83, for a total transaction of $46,109.22.
• On Wednesday, March 18th, Erik Mickels sold 6,666 shares of MarketWise stock. The stock was sold at an average price of $14.10, for a total transaction of $93,990.60.
• On Wednesday, March 11th, Erik Mickels sold 6,666 shares of MarketWise stock. The stock was sold at an average price of $14.73, for a total transaction of $98,190.18.
• On Tuesday, March 10th, Erik Mickels sold 3,334 shares of MarketWise stock. The stock was sold at an average price of $15.20, for a total transaction of $50,676.80.

MarketWise Trading Up 5.3%

MarketWise stock opened at $18.68 on Friday. MarketWise, Inc. has a 1-year low of $9.07 and a 1-year high of $21.74. The firm’s fifty day simple moving average is $15.28 and its 200-day simple moving average is $15.65. The company has a market capitalization of $300.00 million, a P/E ratio of 8.16 and a beta of 0.55.

MarketWise (NASDAQ:MKTW) last issued its quarterly earnings data on Friday, March 6th. The newsletter publisher reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.99. MarketWise had a net margin of 1.71% and a negative return on equity of 2.54%. The firm had revenue of $83.39 million during the quarter, compared to analysts’ expectations of $70.60 million.

MarketWise Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. MarketWise’s dividend payout ratio is currently 43.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in MarketWise during the second quarter valued at about $28,000. Wells Fargo & Company MN increased its stake in shares of MarketWise by 52.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,199 shares of the newsletter publisher’s stock worth $33,000 after purchasing an additional 757 shares during the period. AQR Capital Management LLC increased its stake in shares of MarketWise by 300.5% in the first quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after purchasing an additional 91,282 shares during the period. Susquehanna International Group LLP acquired a new position in shares of MarketWise during the 3rd quarter worth about $191,000. Finally, Raymond James Financial Inc. acquired a new position in shares of MarketWise during the 2nd quarter worth about $226,000. Institutional investors and hedge funds own 23.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of MarketWise in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

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.