MarketWise, Inc. (NASDAQ:MKTW – Get Free Report)’s share price was up 4.3% on Friday . The stock traded as high as $2.45 and last traded at $2.45. Approximately 35,755 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 117,239 shares. The stock had previously closed at $2.35.
Analysts Set New Price Targets
Separately, Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of MarketWise in a research note on Friday, August 11th.
MarketWise Trading Up 2.6 %
MarketWise Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Monday, December 25th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.66%.
In other MarketWise news, major shareholder Frank Porter Stansberry sold 55,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $1.42, for a total transaction of $78,100.00. Following the transaction, the insider now owns 3,227,467 shares in the company, valued at $4,583,003.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 172,547 shares of company stock worth $239,095. Company insiders own 13.08% of the company’s stock.
Institutional Investors Weigh In On MarketWise
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of MarketWise by 98.7% during the second quarter. BlackRock Inc. now owns 1,678,754 shares of the newsletter publisher’s stock valued at $3,358,000 after buying an additional 833,794 shares during the period. Vanguard Group Inc. increased its holdings in MarketWise by 87.8% during the 1st quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher’s stock worth $7,133,000 after acquiring an additional 706,607 shares during the period. Cannell Capital LLC purchased a new stake in MarketWise in the 2nd quarter worth approximately $2,285,000. Formidable Asset Management LLC boosted its holdings in MarketWise by 50.3% in the 3rd quarter. Formidable Asset Management LLC now owns 713,822 shares of the newsletter publisher’s stock valued at $1,142,000 after purchasing an additional 239,000 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of MarketWise by 65.7% during the 2nd quarter. Geode Capital Management LLC now owns 555,049 shares of the newsletter publisher’s stock valued at $1,110,000 after purchasing an additional 220,087 shares in the last quarter. Hedge funds and other institutional investors own 29.26% of the company’s stock.
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.
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