MarketWise (NASDAQ:MKTW) Shares Gap Down to $2.99

MarketWise, Inc. (NASDAQ:MKTWGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $2.99, but opened at $2.91. MarketWise shares last traded at $3.01, with a volume of 844 shares changing hands.

Several equities research analysts have recently commented on MKTW shares. Raymond James downgraded MarketWise from an “outperform” rating to a “market perform” rating in a report on Friday, March 25th. Needham & Company LLC decreased their price target on MarketWise from $11.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 11th. Wedbush downgraded MarketWise from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $6.00 in a report on Friday, March 11th. UBS Group decreased their price target on MarketWise from $13.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 14th. Finally, JMP Securities decreased their price target on MarketWise from $14.00 to $13.00 and set a “market outperform” rating for the company in a report on Thursday, April 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $8.64.

The business has a 50 day simple moving average of $3.39 and a 200-day simple moving average of $4.92.

In other MarketWise news, major shareholder Frank Porter Stansberry acquired 20,770 shares of MarketWise stock in a transaction on Tuesday, June 7th. The stock was purchased at an average price of $2.45 per share, for a total transaction of $50,886.50. Following the purchase, the insider now directly owns 260,158 shares of the company’s stock, valued at $637,387.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of MarketWise during the 3rd quarter valued at $414,000. Geode Capital Management LLC purchased a new position in shares of MarketWise during the 3rd quarter valued at $1,606,000. Penserra Capital Management LLC purchased a new position in shares of MarketWise during the 3rd quarter valued at $43,000. Morgan Stanley purchased a new position in shares of MarketWise during the 3rd quarter valued at $257,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of MarketWise during the 3rd quarter valued at $8,980,000. Hedge funds and other institutional investors own 65.75% of the company’s stock.

MarketWise Company Profile (NASDAQ:MKTW)

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.

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