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

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

Institutional Investors Weigh In On MarketWise

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in shares of MarketWise by 11.9% during the 2nd quarter. Renaissance Technologies LLC now owns 555,400 shares of the newsletter publisher’s stock worth $644,000 after acquiring an additional 59,079 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 in the last quarter. Williams & Novak LLC boosted its position in shares of MarketWise by 95.4% during the 3rd quarter. Williams & Novak LLC now owns 152,300 shares of the newsletter publisher’s stock worth $102,000 after acquiring an additional 74,360 shares in the last quarter. MTM Investment Management LLC boosted its position in shares of 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 in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of MarketWise by 953.6% during the 2nd quarter. Squarepoint Ops LLC now owns 125,174 shares of the newsletter publisher’s stock worth $145,000 after acquiring an additional 113,293 shares in the last quarter. Hedge funds and other institutional investors own 23.04% of the company’s stock.

MarketWise Price Performance

Shares of MKTW stock traded down $0.03 on Wednesday, hitting $0.50. The stock had a trading volume of 855,416 shares, compared to its average volume of 258,744. The firm has a market capitalization of $158.23 million, a P/E 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 company’s 50 day moving average price is $0.64 and its 200-day moving average price is $1.00.

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

MarketWise Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, November 25th. This represents a $0.04 annualized dividend and a yield of 7.99%. MarketWise’s dividend payout ratio (DPR) is 33.34%.

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.