MarketWise (NASDAQ:MKTW) Stock Price Up 3.8%

MarketWise, Inc. (NASDAQ:MKTW)’s share price was up 3.8% during mid-day trading on Wednesday . The company traded as high as $1.65 and last traded at $1.64. Approximately 15,153 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 118,914 shares. The stock had previously closed at $1.58.

Wall Street Analyst Weigh In

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

MarketWise Stock Performance

The firm’s 50 day simple moving average is $1.80 and its 200-day simple moving average is $2.23. The company has a market cap of $540.43 million, a price-to-earnings ratio of 31.80 and a beta of 0.53.

MarketWise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.04 annualized dividend and a yield of 2.44%. MarketWise’s dividend payout ratio (DPR) is presently 80.00%.

Institutional Investors Weigh In On MarketWise

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. acquired a new position in shares of MarketWise during the 3rd quarter valued at about $26,000. American International Group Inc. acquired a new position in shares of MarketWise during the 2nd quarter valued at about $29,000. Cresset Asset Management LLC acquired a new position in shares of MarketWise during the 4th quarter valued at about $30,000. Jane Street Group LLC acquired a new position in shares of MarketWise during the 3rd quarter valued at about $33,000. Finally, JPMorgan Chase & Co. boosted its position in shares of MarketWise by 1,238.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,102 shares of the newsletter publisher’s stock valued at $33,000 after acquiring an additional 8,422 shares during the last quarter. Institutional investors and hedge funds own 23.04% of the company’s stock.

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.