Short Interest in NerdWallet, Inc. (NASDAQ:NRDS) Decreases By 20.3%

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 2,280,000 shares, a decrease of 20.3% from the February 13th total of 2,860,000 shares. Based on an average trading volume of 588,300 shares, the days-to-cover ratio is currently 3.9 days. Approximately 6.5% of the shares of the stock are short sold.

NerdWallet Stock Performance

Shares of NASDAQ NRDS traded up $0.21 during midday trading on Wednesday, reaching $8.98. 709,381 shares of the stock were exchanged, compared to its average volume of 509,934. The company has a 50 day simple moving average of $12.46 and a 200 day simple moving average of $12.95. The stock has a market capitalization of $665.49 million, a P/E ratio of 22.45 and a beta of 1.39. NerdWallet has a twelve month low of $8.75 and a twelve month high of $16.45.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. On average, research analysts expect that NerdWallet will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

NRDS has been the subject of a number of recent research reports. Barclays increased their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley cut their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Transactions at NerdWallet

In related news, insider Samuel Yount sold 440,336 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the transaction, the insider now directly owns 254,237 shares of the company’s stock, valued at approximately $3,429,657.13. This trade represents a 63.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds have recently made changes to their positions in the stock. Topline Capital Management LLC purchased a new position in shares of NerdWallet during the 4th quarter worth approximately $69,840,000. Geode Capital Management LLC boosted its position in NerdWallet by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after buying an additional 19,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in NerdWallet by 157.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock valued at $12,083,000 after buying an additional 555,329 shares during the period. Quinn Opportunity Partners LLC boosted its position in NerdWallet by 3,324.4% in the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after buying an additional 867,681 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in NerdWallet by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock valued at $11,537,000 after buying an additional 64,366 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.