MarketWise (NASDAQ:MKTW) Shares Gap Down to $1.76

Shares of MarketWise, Inc. (NASDAQ:MKTW – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $1.76, but opened at $1.70. MarketWise shares last traded at $1.66, with a volume of 28,000 shares changing hands.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market outperform” rating and set a $6.00 price target on shares of MarketWise in a research report on Monday, March 13th.

MarketWise Price Performance

The company’s 50-day moving average is $2.10 and its 200 day moving average is $2.18.

Hedge Funds Weigh In On MarketWise

Several hedge funds and other institutional investors have recently modified their holdings of MKTW. Alliancebernstein L.P. purchased a new position in shares of MarketWise in the 3rd quarter valued at approximately $26,000. American International Group Inc. acquired a new position in MarketWise in the 2nd quarter worth approximately $29,000. Jump Financial LLC acquired a new position in MarketWise in the 3rd quarter worth approximately $32,000. Jane Street Group LLC acquired a new position in MarketWise in the 3rd quarter worth approximately $33,000. Finally, JPMorgan Chase & Co. increased its holdings in MarketWise by 1,238.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,102 shares of the newsletter publisher’s stock worth $33,000 after buying an additional 8,422 shares during the period. 24.21% of the stock is owned by hedge funds and other institutional investors.

MarketWise Company Profile

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MarketWise, Inc operates a multi-brand platform of subscription businesses that provides financial research, software, education, and tools for investors in the United States and Internationally. The company offers a portfolio of independent investment research, as well as various software and analytical tools on a subscription basis.