MarketWise (NASDAQ:MKTW) Shares Gap Down to $1.75

MarketWise, Inc. (NASDAQ:MKTW) gapped down before the market opened on Tuesday . The stock had previously closed at $1.75, but opened at $1.71. MarketWise shares last traded at $1.72, with a volume of 4,100 shares trading hands.

Analysts Set New Price Targets

Separately, UBS Group cut shares of MarketWise from a “buy” rating to a “neutral” rating and lifted their price target for the company from $3.00 to $3.50 in a research report on Friday, December 1st.

MarketWise Trading Up 1.2 %

The firm has a market capitalization of $576.67 million, a P/E ratio of 35.00 and a beta of 0.53. The business’s 50 day simple moving average is $2.04 and its two-hundred day simple moving average is $2.24.

MarketWise Dividend Announcement

The company also recently disclosed 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 is Thursday, March 14th. This represents a $0.04 dividend on an annualized basis and a yield of 2.29%. MarketWise’s dividend payout ratio is currently 80.00%.

Institutional Trading of MarketWise

A number of institutional investors and hedge funds have recently bought and sold shares of MKTW. Allianz Asset Management GmbH bought a new stake in shares of MarketWise in the first quarter worth approximately $1,893,000. Vanguard Group Inc. grew its stake in shares of MarketWise by 87.8% in the first quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher’s stock worth $7,133,000 after acquiring an additional 706,607 shares during the period. Renaissance Technologies LLC grew its stake in shares of MarketWise by 659.0% in the first quarter. Renaissance Technologies LLC now owns 88,800 shares of the newsletter publisher’s stock worth $419,000 after acquiring an additional 77,100 shares during the period. State Street Corp grew its stake in shares of MarketWise by 9.4% in the first quarter. State Street Corp now owns 90,125 shares of the newsletter publisher’s stock worth $425,000 after acquiring an additional 7,725 shares during the period. Finally, Delphia USA Inc. bought a new stake in shares of MarketWise in the first quarter worth approximately $267,000. 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.