NerdWallet (NASDAQ:NRDS) Shares Climb 5.1% – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price was up 5.1% on Thursday. The stock traded as high as $9.53 and last traded at $9.5540. 402,288 shares were traded during trading, a decline of 52% from the average daily volume of 846,752 shares. The stock had previously closed at $9.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NerdWallet in a research note on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.83.

NerdWallet Stock Down 0.5%

The firm has a market cap of $622.61 million, a P/E ratio of 10.94 and a beta of 1.25. The company’s 50 day simple moving average is $9.40 and its 200-day simple moving average is $9.38.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The business had revenue of $197.30 million for the quarter, compared to the consensus estimate of $195.30 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that NerdWallet, Inc. will post 0.88 EPS for the current year.

Institutional Trading of NerdWallet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new stake in shares of NerdWallet during the second quarter valued at $508,000. Bank of New York Mellon Corp bought a new stake in shares of NerdWallet during the second quarter valued at approximately $1,016,000. Quantinno Capital Management LP boosted its holdings in shares of NerdWallet by 286.0% in the first quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock valued at $755,000 after purchasing an additional 53,915 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of NerdWallet by 25.4% in the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after purchasing an additional 202,838 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after purchasing an additional 444,038 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

NerdWallet, Inc is a personal finance company that helps consumers make informed decisions about financial products and services. Its platform combines financial education, research, comparison tools and a marketplace that connects users with providers.

The company covers a range of personal finance categories, including credit cards, banking, personal and student loans, mortgages, insurance, investing and financial planning. NerdWallet also provides resources for small-business owners and publishes editorial content, reviews and calculators designed to help users evaluate their options.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco, California.