Formidable Asset Management LLC Decreases Holdings in MarketWise, Inc. $MKTW

Formidable Asset Management LLC lowered its position in MarketWise, Inc. (NASDAQ:MKTW) by 92.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,999 shares of the newsletter publisher’s stock after selling 191,559 shares during the period. Formidable Asset Management LLC owned approximately 0.09% of MarketWise worth $248,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in MarketWise during the second quarter worth $28,000. Raymond James Financial Inc. purchased a new position in shares of MarketWise in the second quarter valued at $226,000. Finally, AQR Capital Management LLC raised its stake in shares of MarketWise by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 121,661 shares of the newsletter publisher’s stock worth $60,000 after buying an additional 91,282 shares during the last quarter. 23.04% of the stock is owned by hedge funds and other institutional investors.

MarketWise Stock Performance

Shares of NASDAQ:MKTW opened at $15.71 on Wednesday. The business’s fifty day moving average price is $15.70 and its two-hundred day moving average price is $16.75. The stock has a market cap of $251.83 million, a PE ratio of 6.23 and a beta of 0.52. MarketWise, Inc. has a one year low of $9.07 and a one year high of $21.74.

MarketWise (NASDAQ:MKTW) last released its quarterly earnings results on Thursday, November 6th. The newsletter publisher reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $1.90. The company had revenue of $81.27 million during the quarter, compared to analysts’ expectations of $69.22 million. MarketWise had a negative return on equity of 2.62% and a net margin of 1.70%.

MarketWise Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Friday, November 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Friday, November 14th. MarketWise’s dividend payout ratio is 31.75%.

Analyst Ratings Changes

MKTW has been the topic of a number of research reports. UBS Group reissued an “outperform” rating on shares of MarketWise in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MarketWise in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.