Legato Capital Management LLC Takes Position in NerdWallet, Inc. (NASDAQ:NRDS)

Legato Capital Management LLC acquired a new stake in NerdWallet, Inc. (NASDAQ:NRDS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,019 shares of the company’s stock, valued at approximately $555,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Olympiad Research LP acquired a new position in shares of NerdWallet in the fourth quarter valued at approximately $173,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NerdWallet by 32.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,407 shares of the company’s stock valued at $227,000 after buying an additional 3,796 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of NerdWallet in the fourth quarter valued at approximately $239,000. SG Americas Securities LLC acquired a new position in shares of NerdWallet in the second quarter valued at approximately $445,000. Finally, Trexquant Investment LP increased its stake in shares of NerdWallet by 2.7% in the fourth quarter. Trexquant Investment LP now owns 42,959 shares of the company’s stock valued at $632,000 after buying an additional 1,133 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

Insider Transactions at NerdWallet

In other news, VP Samuel Yount sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the transaction, the vice president now owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.93% of the stock is owned by corporate insiders.

NerdWallet Stock Up 0.8 %

Shares of NRDS opened at $12.59 on Wednesday. The stock has a market cap of $978.72 million, a P/E ratio of -74.06 and a beta of 1.46. The business’s fifty day moving average is $13.65 and its 200 day moving average is $14.22. NerdWallet, Inc. has a 12-month low of $6.38 and a 12-month high of $17.30.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The company had revenue of $150.60 million during the quarter, compared to analysts’ expectations of $149.93 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that NerdWallet, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NRDS. Oppenheimer reduced their target price on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Truist Financial reduced their target price on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Barclays reduced their target price on NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.00.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.