The Manufacturers Life Insurance Company Reduces Position in NerdWallet, Inc. (NASDAQ:NRDS)

The Manufacturers Life Insurance Company cut its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 10.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,074 shares of the company’s stock after selling 1,559 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NerdWallet were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in NerdWallet by 1.5% during the fourth quarter. Rhumbline Advisers now owns 51,536 shares of the company’s stock valued at $685,000 after purchasing an additional 769 shares during the last quarter. American Century Companies Inc. lifted its holdings in NerdWallet by 8.0% during the fourth quarter. American Century Companies Inc. now owns 21,237 shares of the company’s stock valued at $282,000 after purchasing an additional 1,576 shares during the last quarter. Swiss National Bank lifted its holdings in NerdWallet by 2.1% during the fourth quarter. Swiss National Bank now owns 78,600 shares of the company’s stock valued at $1,045,000 after purchasing an additional 1,600 shares during the last quarter. SG Americas Securities LLC lifted its holdings in NerdWallet by 17.0% during the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock valued at $216,000 after purchasing an additional 2,364 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of NerdWallet by 12.4% in the fourth quarter. MetLife Investment Management LLC now owns 24,537 shares of the company’s stock worth $326,000 after buying an additional 2,705 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Price Performance

NASDAQ:NRDS opened at $11.32 on Monday. The company has a market capitalization of $838.90 million, a PE ratio of 28.30 and a beta of 1.41. The firm’s 50-day moving average price is $9.19 and its 200-day moving average price is $11.94. NerdWallet, Inc. has a 1-year low of $7.55 and a 1-year 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 company had revenue of $183.80 million for the quarter, compared to analysts’ expectations of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. Equities analysts anticipate that NerdWallet, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of analyst reports. KeyCorp cut their price objective on shares of NerdWallet from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. 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 research report on Monday, February 24th. Citigroup cut their price objective on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, Barclays raised their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, NerdWallet has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.