Essex Investment Management Co. LLC trimmed its holdings in NutriSystem Inc (NASDAQ:NTRI) by 5.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 34,040 shares of the company’s stock after selling 1,860 shares during the quarter. Essex Investment Management Co. LLC owned 0.11% of NutriSystem worth $1,903,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of NutriSystem in the 3rd quarter worth approximately $1,241,000. Parametrica Management Ltd bought a new stake in shares of NutriSystem in the 3rd quarter worth approximately $269,000. Crossmark Global Holdings Inc. bought a new stake in shares of NutriSystem in the 3rd quarter worth approximately $860,000. Penserra Capital Management LLC lifted its holdings in shares of NutriSystem by 41.7% in the 3rd quarter. Penserra Capital Management LLC now owns 87,162 shares of the company’s stock worth $4,872,000 after acquiring an additional 25,658 shares during the last quarter. Finally, Orca Investment Management LLC bought a new stake in shares of NutriSystem in the 3rd quarter worth approximately $1,175,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
In other NutriSystem news, CFO Michael P. Monahan sold 10,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $53.33, for a total transaction of $533,300.00. Following the transaction, the chief financial officer now directly owns 59,598 shares of the company’s stock, valued at approximately $3,178,361.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jay Herratti sold 3,799 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $60.00, for a total transaction of $227,940.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,355 shares of company stock worth $4,903,650. Insiders own 2.40% of the company’s stock.
NutriSystem Inc (NTRI) opened at $50.00 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.
NutriSystem (NASDAQ:NTRI) last issued its earnings results on Wednesday, October 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. NutriSystem had a net margin of 8.27% and a return on equity of 49.69%. The company had revenue of $158.10 million for the quarter, compared to the consensus estimate of $155.21 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. equities research analysts expect that NutriSystem Inc will post 1.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, November 3rd. NutriSystem’s payout ratio is 38.25%.
NutriSystem declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of brokerages have recently weighed in on NTRI. B. Riley restated a “buy” rating and issued a $74.00 price objective on shares of NutriSystem in a report on Wednesday, August 2nd. Barrington Research upgraded shares of NutriSystem from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Monday, July 31st. DA Davidson restated a “buy” rating and issued a $79.00 price objective (up from $64.00) on shares of NutriSystem in a report on Sunday, July 30th. Lake Street Capital set a $73.00 price objective on shares of NutriSystem and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, BidaskClub lowered shares of NutriSystem from a “strong-buy” rating to a “buy” rating 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 company’s stock. NutriSystem has an average rating of “Buy” and a consensus target price of $67.44.
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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