Basswood Capital Management L.L.C. Takes $6.45 Million Position in NerdWallet, Inc. (NASDAQ:NRDS)

Basswood Capital Management L.L.C. purchased a new position in NerdWallet, Inc. (NASDAQ:NRDS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 507,122 shares of the company’s stock, valued at approximately $6,446,000. Basswood Capital Management L.L.C. owned approximately 0.69% of NerdWallet at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NRDS. Los Angeles Capital Management LLC lifted its stake in shares of NerdWallet by 5.8% in the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after buying an additional 1,190 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after acquiring an additional 1,561 shares during the last quarter. Marshall Wace LLP lifted its position in NerdWallet by 2.0% in the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock valued at $1,545,000 after acquiring an additional 2,070 shares in the last quarter. Quarry LP purchased a new stake in NerdWallet during the 2nd quarter valued at $31,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after purchasing an additional 2,172 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NRDS has been the topic of a number of research analyst reports. Truist Financial lowered their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Barclays upped their target price on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Trading Down 1.6 %

NRDS opened at $14.00 on Monday. The company’s 50 day moving average is $13.24 and its 200 day moving average is $13.37. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -99.99 and a beta of 1.39. NerdWallet, Inc. has a 12-month low of $10.10 and a 12-month high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) EPS. As a group, analysts predict that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the acquisition, the insider now directly owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This trade represents a 8.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Topline Capital Management, Ll acquired 49,722 shares of NerdWallet stock in a transaction dated Monday, October 21st. The stock was purchased at an average cost of $12.05 per share, with a total value of $599,150.10. Following the completion of the purchase, the insider now owns 4,839,090 shares of the company’s stock, valued at approximately $58,311,034.50. This represents a 1.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.93% of the stock is currently owned by corporate insiders.

NerdWallet 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.