MarketWise, Inc. (NASDAQ:MKTW) Sees Large Increase in Short Interest

MarketWise, Inc. (NASDAQ:MKTW) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,070,000 shares, an increase of 237.3% from the October 15th total of 317,200 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average trading volume of 527,200 shares, the days-to-cover ratio is presently 2.0 days.

MarketWise Stock Performance

Shares of NASDAQ:MKTW traded down $0.03 on Wednesday, hitting $0.50. 855,416 shares of the company’s stock were exchanged, compared to its average volume of 258,744. The company has a market capitalization of $158.23 million, a PE ratio of 4.17 and a beta of 0.46. MarketWise has a 1-year low of $0.47 and a 1-year high of $3.62. The firm’s 50-day moving average is $0.64 and its 200 day moving average is $1.00.

MarketWise (NASDAQ:MKTW) last announced its earnings results on Thursday, August 15th. The newsletter publisher reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). The firm had revenue of $105.05 million during the quarter. MarketWise had a net margin of 1.20% and a negative return on equity of 1.89%.

MarketWise Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, November 25th will be given a $0.01 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 7.99%. MarketWise’s dividend payout ratio (DPR) is presently 33.34%.

Institutional Trading of MarketWise

A number of large investors have recently made changes to their positions in MKTW. Fiducient Advisors LLC acquired a new stake in shares of MarketWise in the 1st quarter valued at about $86,000. Williams & Novak LLC acquired a new stake in MarketWise during the 2nd quarter worth approximately $90,000. Dynamic Advisor Solutions LLC acquired a new stake in MarketWise during the 2nd quarter worth approximately $90,000. Bank of New York Mellon Corp lifted its position in MarketWise by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 178,261 shares of the newsletter publisher’s stock worth $207,000 after acquiring an additional 11,085 shares during the period. Finally, MTM Investment Management LLC lifted its position in MarketWise by 414.3% during the 2nd quarter. MTM Investment Management LLC now owns 128,570 shares of the newsletter publisher’s stock worth $149,000 after acquiring an additional 103,570 shares during the period. 23.04% of the stock is owned by institutional investors and hedge funds.

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.