Phraction Management LLC Sells 82,813 Shares of MarketWise, Inc. (NASDAQ:MKTW)

Phraction Management LLC reduced its position in shares of MarketWise, Inc. (NASDAQ:MKTW) by 33.1% in the third quarter, Holdings Channel reports. The firm owned 167,187 shares of the newsletter publisher’s stock after selling 82,813 shares during the quarter. Phraction Management LLC’s holdings in MarketWise were worth $112,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of MarketWise by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 178,261 shares of the newsletter publisher’s stock valued at $207,000 after buying an additional 11,085 shares during the last quarter. Renaissance Technologies LLC lifted its stake in MarketWise by 11.9% during the 2nd quarter. Renaissance Technologies LLC now owns 555,400 shares of the newsletter publisher’s stock valued at $644,000 after acquiring an additional 59,079 shares during the period. Williams & Novak LLC boosted its holdings 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 valued at $102,000 after acquiring an additional 74,360 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of MarketWise in the second quarter worth approximately $90,000. Finally, MTM Investment Management LLC raised its holdings in shares of MarketWise by 414.3% during the second quarter. MTM Investment Management LLC now owns 128,570 shares of the newsletter publisher’s stock valued at $149,000 after purchasing an additional 103,570 shares during the last quarter. 23.04% of the stock is owned by hedge funds and other institutional investors.

MarketWise Trading Down 3.3 %

Shares of MKTW stock opened at $0.50 on Friday. MarketWise, Inc. has a 12-month low of $0.47 and a 12-month high of $3.62. The stock has a market capitalization of $157.76 million, a P/E ratio of 4.16 and a beta of 0.46. The firm’s 50 day moving average is $0.63 and its 200 day moving average is $0.98.

MarketWise (NASDAQ:MKTW) last released its quarterly 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). MarketWise had a negative return on equity of 1.89% and a net margin of 1.20%. The firm had revenue of $105.05 million during the quarter.

MarketWise Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 25th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date of this dividend is Monday, November 25th. MarketWise’s dividend payout ratio 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.