Connor Clark & Lunn Investment Management Ltd. Acquires 86,029 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 353,139 shares of the company's stock after purchasing an additional 86,029 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.48% of NerdWallet worth $4,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in NerdWallet in the 2nd quarter worth approximately $31,000. nVerses Capital LLC purchased a new stake in NerdWallet in the third quarter worth $62,000. US Bancorp DE bought a new stake in NerdWallet in the third quarter valued at $86,000. Algert Global LLC purchased a new stake in shares of NerdWallet in the 2nd quarter worth about $196,000. Finally, TNF LLC bought a new stake in shares of NerdWallet in the 3rd quarter worth approximately $178,000. Institutional investors own 38.81% of the company's stock.

NerdWallet Stock Down 1.6 %

NRDS traded down $0.22 during mid-day trading on Friday, reaching $13.75. 528,654 shares of the company traded hands, compared to its average volume of 1,046,706. The stock has a market capitalization of $1.01 billion, a P/E ratio of -98.21 and a beta of 1.39. NerdWallet, Inc. has a 52-week low of $10.10 and a 52-week high of $17.30. The company's fifty day moving average price is $13.12 and its 200-day moving average price is $13.37.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $191.30 million during the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. NerdWallet's revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. As a group, sell-side analysts forecast that NerdWallet, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of recent research reports. Truist Financial lowered their price objective on NerdWallet from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, August 5th. 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. Barclays lifted their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Oppenheimer reduced their price target on shares of NerdWallet from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley boosted their target price on shares of NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

About NerdWallet

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.