Penserra Capital Management LLC boosted its position in NutriSystem Inc (NASDAQ:NTRI) by 41.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,162 shares of the company’s stock after acquiring an additional 25,658 shares during the quarter. NutriSystem accounts for about 1.2% of Penserra Capital Management LLC’s holdings, making the stock its 18th biggest holding. Penserra Capital Management LLC owned 0.29% of NutriSystem worth $4,872,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in NutriSystem in the second quarter valued at approximately $106,000. FNY Partners Fund LP acquired a new stake in NutriSystem in the first quarter valued at approximately $111,000. Riverhead Capital Management LLC raised its holdings in NutriSystem by 62.1% in the second quarter. Riverhead Capital Management LLC now owns 2,431 shares of the company’s stock valued at $126,000 after acquiring an additional 931 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in NutriSystem by 10.9% in the second quarter. Ameritas Investment Partners Inc. now owns 2,608 shares of the company’s stock valued at $136,000 after acquiring an additional 257 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in NutriSystem by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,646 shares of the company’s stock valued at $138,000 after acquiring an additional 397 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert F. Bernstock sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $53.26, for a total transaction of $372,820.00. Following the sale, the director now directly owns 25,350 shares of the company’s stock, valued at approximately $1,350,141. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn M. Zier sold 30,121 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $52.27, for a total value of $1,574,424.67. Following the sale, the insider now directly owns 214,646 shares in the company, valued at $11,219,546.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,355 shares of company stock worth $4,903,650. 2.40% of the stock is currently owned by corporate insiders.
Several analysts recently weighed in on the stock. Lake Street Capital set a $73.00 target price on shares of NutriSystem and gave the company a “buy” rating in a report on Thursday. Craig Hallum set a $80.00 target price on shares of NutriSystem and gave the company a “buy” rating in a report on Thursday, July 27th. B. Riley reissued a “buy” rating and set a $74.00 price objective on shares of NutriSystem in a report on Friday, July 28th. DA Davidson reissued a “buy” rating and set a $64.00 price objective on shares of NutriSystem in a report on Monday, July 24th. Finally, Barrington Research raised shares of NutriSystem from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. NutriSystem presently has a consensus rating of “Buy” and a consensus target price of $67.44.
NutriSystem Inc (NASDAQ NTRI) traded down 5.20% during mid-day trading on Monday, reaching $51.05. 461,594 shares of the company’s stock were exchanged. NutriSystem Inc has a 52 week low of $30.10 and a 52 week high of $67.95. The company’s 50 day moving average price is $55.38 and its 200-day moving average price is $53.56. The company has a market capitalization of $1.52 billion, a P/E ratio of 31.63 and a beta of 1.15.
NutriSystem (NASDAQ:NTRI) last announced its earnings results on Wednesday, October 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. NutriSystem had a return on equity of 49.69% and a net margin of 8.27%. The company had revenue of $158.10 million for the quarter, compared to analyst estimates of $155.21 million. During the same period in the prior year, the company posted $0.27 EPS. NutriSystem’s quarterly revenue was up 26.9% on a year-over-year basis. On average, equities research analysts expect that NutriSystem Inc will post $1.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, November 3rd. NutriSystem’s payout ratio is 38.25%.
NutriSystem announced that its board has initiated a stock buyback plan on Wednesday, October 25th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
NutriSystem Company Profile
Nutrisystem, Inc is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy.
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