NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Up 26.1% in February

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 5,818,108 shares, a growth of 26.1% from the February 12th total of 4,615,484 shares. Based on an average trading volume of 1,269,247 shares, the short-interest ratio is currently 4.6 days. Approximately 16.1% of the shares of the stock are short sold. Approximately 16.1% of the shares of the stock are short sold. Based on an average trading volume of 1,269,247 shares, the short-interest ratio is currently 4.6 days.

NerdWallet Stock Up 1.6%

Shares of NASDAQ NRDS traded up $0.16 during midday trading on Monday, hitting $10.09. The stock had a trading volume of 1,372,485 shares, compared to its average volume of 1,197,950. The business’s 50 day moving average is $11.41 and its 200-day moving average is $12.15. NerdWallet has a 52 week low of $7.55 and a 52 week high of $16.24. The company has a market cap of $673.91 million, a P/E ratio of 15.77 and a beta of 1.44.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The business had revenue of $225.40 million during the quarter, compared to analyst estimates of $211.37 million. During the same quarter last year, the company earned $0.51 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts expect that NerdWallet will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its board has approved a stock repurchase program on Tuesday, December 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on NRDS shares. Zacks Research lowered shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Morgan Stanley cut shares of NerdWallet from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $14.00 to $9.00 in a research report on Friday. Oppenheimer decreased their target price on NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Finally, Truist Financial dropped their target price on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NerdWallet currently has an average rating of “Hold” and a consensus target price of $14.33.

Insider Activity at NerdWallet

In other NerdWallet news, CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the transaction, the chief accounting officer directly owned 47,202 shares of the company’s stock, valued at approximately $540,462.90. This trade represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel Yount sold 3,011 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $10.61, for a total transaction of $31,946.71. Following the completion of the sale, the insider owned 198,251 shares of the company’s stock, valued at approximately $2,103,443.11. The trade was a 1.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,055 shares of company stock worth $158,401 over the last three months. Insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd purchased a new stake in shares of NerdWallet during the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC raised its holdings in shares of 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. Polymer Capital Management US LLC bought a new position in NerdWallet during the third quarter valued at approximately $111,000. Olympiad Research LP purchased a new stake in NerdWallet in the third quarter worth approximately $119,000. Finally, Prelude Capital Management LLC purchased a new stake in NerdWallet in the third quarter worth approximately $119,000. Institutional investors own 38.81% of the company’s stock.

NerdWallet Company 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.