MarketWise (NASDAQ:MKTW) Sets New 52-Week Low – Here’s Why

MarketWise, Inc. (NASDAQ:MKTW) shares reached a new 52-week low during trading on Thursday . The company traded as low as $0.49 and last traded at $9.43, with a volume of 392479 shares trading hands. The stock had previously closed at $0.51.

MarketWise Price Performance

The firm has a fifty day moving average price of $0.60 and a two-hundred day moving average price of $0.58. The stock has a market capitalization of $2.95 billion, a PE ratio of 76.87 and a beta of 0.36.

MarketWise (NASDAQ:MKTW) last announced its quarterly earnings data on Thursday, March 6th. The newsletter publisher reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.40. The company had revenue of $97.48 million for the quarter, compared to analysts’ expectations of $77.36 million. MarketWise had a negative return on equity of 1.89% and a net margin of 1.20%.

MarketWise Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $0.20 dividend. This is an increase from MarketWise’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.80 dividend on an annualized basis and a yield of 8.80%. MarketWise’s payout ratio is 23.53%.

Hedge Funds Weigh In On MarketWise

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in MarketWise in the fourth quarter worth $25,000. Two Sigma Securities LLC acquired a new position in MarketWise in the 4th quarter worth approximately $27,000. BNP Paribas Financial Markets purchased a new position in shares of MarketWise during the fourth quarter worth $31,000. Barclays PLC boosted its stake in shares of MarketWise by 260.4% in the third quarter. Barclays PLC now owns 51,689 shares of the newsletter publisher’s stock worth $34,000 after buying an additional 37,347 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in MarketWise by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 70,768 shares of the newsletter publisher’s stock worth $47,000 after buying an additional 38,364 shares in the last quarter. 23.04% of the stock is currently owned by institutional investors.

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.