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

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

MarketWise Stock Performance

The company has a market capitalization of $160.30 million, a P/E ratio of 82.34 and a beta of 0.42. The company’s fifty day simple moving average is $11.94 and its 200-day simple moving average is $11.65.

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

MarketWise Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a dividend of $0.20 per share. This is a boost from MarketWise’s previous quarterly dividend of $0.01. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date of this dividend was Tuesday, March 18th. MarketWise’s dividend payout ratio is 23.53%.

Hedge Funds Weigh In On MarketWise

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKTW. Geode Capital Management LLC lifted its position in shares of MarketWise by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 841,542 shares of the newsletter publisher’s stock valued at $478,000 after buying an additional 22,728 shares during the last quarter. Barclays PLC lifted its position in MarketWise by 260.4% during the third quarter. Barclays PLC now owns 51,689 shares of the newsletter publisher’s stock valued at $34,000 after acquiring an additional 37,347 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MarketWise by 118.4% in the third quarter. JPMorgan Chase & Co. now owns 70,768 shares of the newsletter publisher’s stock valued at $47,000 after acquiring an additional 38,364 shares in the last quarter. XTX Topco Ltd purchased a new position in MarketWise in the fourth quarter worth $25,000. Finally, Two Sigma Securities LLC acquired a new position in shares of MarketWise during the fourth quarter worth $27,000. Hedge funds and other institutional investors 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.