MarketWise (NASDAQ:MKTW) Stock Price Down 5.2%

Shares of MarketWise, Inc. (NASDAQ:MKTW) dropped 5.2% during mid-day trading on Wednesday . The company traded as low as $1.63 and last traded at $1.63. Approximately 109,053 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 118,029 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their target price on shares of MarketWise from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, March 28th.

MarketWise Stock Performance

The stock’s 50 day moving average is $1.75 and its 200 day moving average is $2.23. The firm has a market cap of $530.54 million, a price-to-earnings ratio of 32.20 and a beta of 0.53.

MarketWise Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Friday, March 15th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.48%. MarketWise’s payout ratio is presently 80.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in shares of MarketWise by 30.2% during the 4th quarter. SG Americas Securities LLC now owns 18,499 shares of the newsletter publisher’s stock worth $51,000 after purchasing an additional 4,292 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of MarketWise during the 4th quarter worth approximately $35,000. Quadrature Capital Ltd acquired a new stake in shares of MarketWise during the 4th quarter worth approximately $46,000. Heron Bay Capital Management acquired a new stake in shares of MarketWise during the 4th quarter worth approximately $65,000. Finally, MTM Investment Management LLC acquired a new stake in shares of MarketWise during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 23.04% of the company’s stock.

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.