NerdWallet, Inc. $NRDS Stake Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in NerdWallet, Inc. (NASDAQ:NRDS) by 44.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,894 shares of the company’s stock after acquiring an additional 54,626 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.24% of NerdWallet worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NRDS. Tower Research Capital LLC TRC lifted its stake in NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after purchasing an additional 1,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NerdWallet by 9.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,659 shares of the company’s stock valued at $249,000 after buying an additional 1,934 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of NerdWallet by 12.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after acquiring an additional 2,161 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of NerdWallet by 22.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,489 shares of the company’s stock worth $170,000 after acquiring an additional 2,877 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of NerdWallet by 7.7% in the 2nd quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock worth $504,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

Insider Activity

In other news, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the transaction, the insider directly owned 358,116 shares in the company, valued at $5,744,180.64. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 44,231 shares of company stock worth $669,277. Company insiders own 45.93% of the company’s stock.

NerdWallet Price Performance

Shares of NRDS opened at $12.23 on Thursday. The company has a market capitalization of $889.24 million, a price-to-earnings ratio of 12.74 and a beta of 1.43. NerdWallet, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $16.24. The business’s 50-day moving average is $13.98 and its 200-day moving average is $12.11.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The business had revenue of $215.10 million during the quarter, compared to analysts’ expectations of $193.31 million. NerdWallet had a net margin of 9.22% and a return on equity of 9.27%. NerdWallet’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

NerdWallet declared that its Board of Directors has authorized a stock repurchase program on Tuesday, December 16th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. KeyCorp upped their target price on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Truist Financial upped their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Barclays raised their target price on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Zacks Research lowered shares of NerdWallet from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NerdWallet in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.40.

NerdWallet Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.