Royce & Associates LP recently announced the acquisition of new stake in MarketWise Inc. (NASDAQ:MKTW). The institutional investor has increased its shareholding in the Technology company by 473.04% to 1.21 million shares with purchase of 1.0 million shares. This fresh investment now brings its stake to 3.58% valued currently at $2.04 million. In addition, BlackRock Fund Advisors raised its holdings by 54742.0 to 0.73 million shares. And Formidable Asset Management LLC has lifted its position by 178.22% or 0.26 million shares – to 0.41 million shares.
With over 0.29 million MarketWise Inc. (MKTW) shares trading Monday and a closing price of $2.42 on the day, the dollar volume was approximately $0.69 million. The shares have shown a negative half year performance of -12.00% and its price on 01/23/23 gained nearly 10.50%. Currently, there are 319.92M common shares owned by the public and among those 22.04M shares have been available to trade.
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 58 of these insider trades were purchases, accounting for 7,497,846 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 7,135,922 shares.
The top 3 mutual fund holders in MarketWise Inc. are Royce Pennsylvania Mutual Fund, Royce Value Trust, and Vanguard Extended Market Index Fu. Royce Pennsylvania Mutual Fund owns 0.5 million shares of the company’s stock, all valued at over $0.84 million. Vanguard Extended Market Index Fu sold 479.0 shares to bring its total holdings to over 0.34 million shares at a value of $0.57 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.00% of the shares outstanding.
Shares of MarketWise Inc. (NASDAQ: MKTW) opened at $2.26, up $0.07 from a prior closing price of $2.19. However, the script later moved the day high at 2.4300, up 10.50%. The company’s stock has a 5-day price change of 20.40% and -5.10% over the past three months. MKTW shares are trading 44.05% year to date (YTD), with the 12-month market performance down to -58.84% lower. It has a 12-month low price of $1.52 and touched a high of $6.32 over the same period. MKTW has an average intraday trading volume of 153.40K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 34.52%, 24.04%, and -12.96% respectively.
Institutional ownership of MarketWise Inc. (NASDAQ: MKTW) shares accounts for 44.40% of the company’s 319.92M shares outstanding. Mutual fund holders own 44.92%, while other institutional holders and individual stakeholders account for 9.78% and 27.18% respectively.
It has a market capitalization of $746.88M. The stock’s trailing 12-month PE ratio is 34.08, while the earnings-per-share (ttm) stands at $0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.12% over the week and 7.39% over the month.
Analysts forecast that MarketWise Inc. (MKTW) will achieve an EPS of $0.09 for the current quarter, $0.09 for the next quarter and $0.4 for 2023. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.1. Earnings per share for the fiscal year are expected to decrease by -88.50%, and -165.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate MarketWise Inc. (MKTW) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Wedbush coverage for the MarketWise Inc. (MKTW) stock in a research note released on March 11, 2022 offered a Neutral rating with a price target of $6.