Nationwide Fund Advisors trimmed its holdings in NutriSystem Inc. (NASDAQ:NTRI) by 28.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,599 shares of the company’s stock after selling 21,297 shares during the quarter. Nationwide Fund Advisors owned about 0.18% of NutriSystem worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in NTRI. Riverhead Capital Management LLC lifted its stake in shares of NutriSystem by 62.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,431 shares of the company’s stock valued at $126,000 after purchasing an additional 931 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of NutriSystem by 10.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,608 shares of the company’s stock valued at $136,000 after purchasing an additional 257 shares during the period. Victory Capital Management Inc. lifted its stake in shares of NutriSystem by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,646 shares of the company’s stock valued at $138,000 after purchasing an additional 397 shares during the period. SG Americas Securities LLC acquired a new position in shares of NutriSystem in the 2nd quarter valued at about $199,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of NutriSystem in the 2nd quarter valued at about $200,000. 92.48% of the stock is currently owned by institutional investors.
NutriSystem Inc. (NASDAQ:NTRI) opened at $52.35 on Wednesday. NutriSystem Inc. has a 52 week low of $31.60 and a 52 week high of $67.95. The firm has a market capitalization of $1,556.04, a P/E ratio of 28.31, a P/E/G ratio of 1.45 and a beta of 1.01.
NutriSystem announced that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised NutriSystem from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday. Lake Street Capital set a $73.00 price objective on NutriSystem and gave the company a “buy” rating in a research note on Thursday, October 26th. B. Riley set a $74.00 price target on NutriSystem and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, BidaskClub downgraded NutriSystem from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.44.
In other NutriSystem news, CFO Michael P. Monahan sold 11,335 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $55.03, for a total transaction of $623,765.05. Following the completion of the sale, the chief financial officer now directly owns 55,933 shares of the company’s stock, valued at approximately $3,077,992.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay Herratti sold 3,799 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $60.00, for a total value of $227,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 36,134 shares of company stock valued at $1,913,045 over the last three months. Corporate insiders own 2.40% of the company’s stock.
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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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