Alta Fox Capital Management LLC Takes Position in NerdWallet, Inc. (NASDAQ:NRDS)

Alta Fox Capital Management LLC purchased a new position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 809,086 shares of the company's stock, valued at approximately $10,761,000. NerdWallet comprises about 3.8% of Alta Fox Capital Management LLC's portfolio, making the stock its 9th biggest holding. Alta Fox Capital Management LLC owned approximately 1.10% of NerdWallet at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Topline Capital Management LLC purchased a new position in NerdWallet in the 4th quarter valued at about $69,840,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 acquiring an additional 555,329 shares during the last quarter. Quinn Opportunity Partners LLC lifted its stake in shares of NerdWallet by 3,324.4% during the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after purchasing an additional 867,681 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NerdWallet by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company's stock worth $11,537,000 after purchasing an additional 64,366 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of NerdWallet by 153.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company's stock valued at $10,197,000 after purchasing an additional 463,758 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Trading Up 1.8 %

NASDAQ:NRDS traded up $0.20 during mid-day trading on Thursday, hitting $11.11. The company had a trading volume of 465,380 shares, compared to its average volume of 538,271. The business has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $11.97. The firm has a market capitalization of $823.34 million, a price-to-earnings ratio of 27.78 and a beta of 1.41. NerdWallet, Inc. has a 1 year low of $7.55 and a 1 year high of $16.45.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The company had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. As a group, research analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NRDS. Morgan Stanley decreased their price target on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Barclays upped their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, KeyCorp cut their target price on NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

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.