Shares of MarketWise, Inc. (NASDAQ:MKTW) increased by 0.3% during mid-day trading on Tuesday, reaching a high of $16.12 before closing at $16.09. The trading volume for the day was 10,896 shares, a significant drop of 31% compared to the average daily volume of 15,701 shares. The stock had previously closed at $16.04.
Analyst Ratings and Market Outlook
MarketWise has drawn attention from several research analysts recently. UBS Group reaffirmed an “outperform” rating for the stock in a report released earlier this week. In contrast, Weiss Ratings maintained a “sell (d+)” rating on the company as of October 8, 2023. Overall, analysts have mixed sentiments about MarketWise, with one analyst recommending a buy and another advising a sell. According to data from MarketBeat, the consensus rating for MarketWise is “hold,” with an average target price of $20.00.
MarketWise’s quarterly earnings report, released on November 6, 2023, revealed earnings per share of $0.58, significantly surpassing the consensus estimate of ($1.32) by $1.90. The company reported revenues of $81.27 million, exceeding analyst expectations of $69.22 million. Notably, the firm recorded a negative return on equity of 2.62% alongside a net margin of 1.70%.
Dividend Announcement and Investor Activity
In addition to its earnings report, MarketWise announced a quarterly dividend of $0.20 per share, scheduled for payment on December 24, 2023. Shareholders on record as of November 14, 2023 will be eligible for this dividend, translating to an annualized yield of 5.0%. The company’s dividend payout ratio currently stands at 31.75%.
Institutional investment in MarketWise has fluctuated recently. Notable transactions include purchases by Russell Investments Group Ltd., which acquired a new stake valued at approximately $28,000. Other institutional investors, such as Raymond James Financial Inc. and Susquehanna International Group LLP, also entered positions in the second and third quarters, respectively, with stakes valued at $226,000 and $191,000. Currently, institutional investors hold 23.04% of MarketWise’s outstanding shares.
MarketWise operates a multi-brand platform focused on content and technology for self-directed investors, both in the United States and internationally. The company provides financial research, software, and educational tools designed to assist users in navigating the financial markets. Its diverse investment strategies encompass value investing, income, growth, and more, catering to various investor preferences through multiple media formats.
As MarketWise continues to attract attention from both analysts and institutional investors, its performance in the coming months will be closely monitored by market participants.
