MarketWise, Inc. (NASDAQ:MKTW) Major Shareholder Frank Porter Stansberry Sells 40,000 Shares of Stock

MarketWise, Inc. (NASDAQ:MKTW) major shareholder Frank Porter Stansberry sold 40,000 shares of MarketWise stock in a transaction on Monday, August 28th. The shares were sold at an average price of $1.35, for a total value of $54,000.00. Following the transaction, the insider now directly owns 3,150,467 shares of the company’s stock, valued at $4,253,130.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Frank Porter Stansberry also recently made the following trade(s):

• On Thursday, August 24th, Frank Porter Stansberry sold 55,000 shares of MarketWise stock. The shares were sold at an average price of $1.42, for a total value of $78,100.00.
• On Tuesday, August 22nd, Frank Porter Stansberry sold 32,547 shares of MarketWise stock. The shares were sold at an average price of $1.49, for a total value of $48,495.03.
• On Thursday, August 10th, Frank Porter Stansberry sold 217,106 shares of MarketWise stock. The shares were sold at an average price of $1.58, for a total value of $343,027.48.
• On Tuesday, July 25th, Frank Porter Stansberry sold 700 shares of MarketWise stock. The shares were sold at an average price of $2.04, for a total value of $1,428.00.
• On Friday, July 7th, Frank Porter Stansberry sold 900 shares of MarketWise stock. The shares were sold at an average price of $2.00, for a total value of $1,800.00.
• On Wednesday, July 5th, Frank Porter Stansberry sold 6,946 shares of MarketWise stock. The stock was sold at an average price of $2.00, for a total value of $13,892.00.
• On Monday, July 3rd, Frank Porter Stansberry sold 890 shares of MarketWise stock. The stock was sold at an average price of $2.00, for a total value of $1,780.00.

MarketWise Trading Down 3.7 %

Shares of MKTW opened at $1.29 on Wednesday. The stock has a 50 day simple moving average of $1.82 and a 200 day simple moving average of $1.88. MarketWise, Inc. has a 52-week low of $1.26 and a 52-week high of $3.14.

MarketWise Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Tuesday, September 5th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.04 annualized dividend and a dividend yield of 3.10%.

Hedge Funds Weigh In On MarketWise

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its position in MarketWise by 39.7% during the 1st quarter. Jane Street Group LLC now owns 18,283 shares of the newsletter publisher’s stock worth $86,000 after acquiring an additional 5,194 shares during the last quarter. Renaissance Technologies LLC boosted its position in MarketWise by 5.1% during the 1st quarter. Renaissance Technologies LLC now owns 123,300 shares of the newsletter publisher’s stock worth $228,000 after acquiring an additional 6,000 shares during the last quarter. Formidable Asset Management LLC boosted its position in MarketWise by 1.5% during the 2nd quarter. Formidable Asset Management LLC now owns 474,822 shares of the newsletter publisher’s stock worth $950,000 after acquiring an additional 7,000 shares during the last quarter. American International Group Inc. boosted its position in MarketWise by 85.7% during the 2nd quarter. American International Group Inc. now owns 15,255 shares of the newsletter publisher’s stock worth $31,000 after acquiring an additional 7,038 shares during the last quarter. Finally, State Street Corp boosted its position in MarketWise by 9.4% during the 1st quarter. State Street Corp now owns 90,125 shares of the newsletter publisher’s stock worth $425,000 after acquiring an additional 7,725 shares during the last quarter. 29.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MKTW has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of MarketWise in a research report on Friday, August 11th. JMP Securities reiterated a “market outperform” rating and issued a $5.50 price objective on shares of MarketWise in a research report on Friday, June 30th.

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.