MarketWise (NASDAQ:MKTW) Trading Down 2.6%

MarketWise, Inc. (NASDAQ:MKTW – Get Rating) fell 2.6% during mid-day trading on Tuesday . The company traded as low as $2.61 and last traded at $2.61. 703 shares were traded during trading, a decline of 100% from the average session volume of 255,497 shares. The stock had previously closed at $2.68.

A number of brokerages have recently issued reports on MKTW. Raymond James downgraded shares of MarketWise from an “outperform” rating to a “market perform” rating in a report on Friday, March 25th. Zacks Investment Research downgraded shares of MarketWise from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Wedbush downgraded shares of MarketWise from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $6.00 in a report on Friday, March 11th. UBS Group dropped their price objective on shares of MarketWise from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 14th. Finally, Needham & Company LLC dropped their price objective on shares of MarketWise from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $7.97.

The firm’s 50-day moving average price is $4.13 and its 200-day moving average price is $5.57.

Several institutional investors have recently added to or reduced their stakes in MKTW. Victory Capital Management Inc. purchased a new position in shares of MarketWise in the third quarter valued at $312,000. BlackRock Inc. purchased a new position in shares of MarketWise in the third quarter valued at $414,000. Magnetar Financial LLC purchased a new position in shares of MarketWise in the third quarter valued at $862,000. Geode Capital Management LLC purchased a new position in shares of MarketWise in the third quarter valued at $1,606,000. Finally, Cohanzick Management LLC purchased a new position in shares of MarketWise in the third quarter valued at $190,000. Hedge funds and other institutional investors own 65.75% of the company’s stock.

About MarketWise (NASDAQ:MKTW)

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.

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