California Public Employees Retirement System increased its stake in shares of NutriSystem Inc. (NASDAQ:NTRI) by 65.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,223 shares of the company’s stock after purchasing an additional 8,423 shares during the period. California Public Employees Retirement System owned approximately 0.07% of NutriSystem worth $1,186,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of NutriSystem by 50.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,458,686 shares of the company’s stock worth $127,974,000 after purchasing an additional 823,221 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of NutriSystem by 130.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 17,560 shares of the company’s stock worth $914,000 after purchasing an additional 9,942 shares during the period. U S Global Investors Inc. purchased a new position in shares of NutriSystem during the 3rd quarter worth approximately $1,023,000. Assetmark Inc. boosted its position in shares of NutriSystem by 13.0% during the 2nd quarter. Assetmark Inc. now owns 125,103 shares of the company’s stock worth $6,512,000 after purchasing an additional 14,358 shares during the period. Finally, Emerald Advisers Inc. PA boosted its position in shares of NutriSystem by 13.1% during the 3rd quarter. Emerald Advisers Inc. PA now owns 661,428 shares of the company’s stock worth $36,974,000 after purchasing an additional 76,430 shares during the period.
In other news, insider Dawn M. Zier sold 30,825 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $40.37, for a total value of $1,244,405.25. Following the sale, the insider now directly owns 221,013 shares in the company, valued at approximately $8,922,294.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keira Krausz sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $50.96, for a total transaction of $254,800.00. Following the completion of the sale, the insider now owns 75,463 shares in the company, valued at $3,845,594.48. The disclosure for this sale can be found here. Insiders sold a total of 96,831 shares of company stock worth $4,627,659 over the last 90 days. Company insiders own 2.40% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Lake Street Capital set a $73.00 price objective on shares of NutriSystem and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of NutriSystem from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Saturday, October 28th. DA Davidson reissued a “buy” rating and issued a $80.00 price target on shares of NutriSystem in a research report on Friday, December 22nd. BidaskClub raised shares of NutriSystem from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, B. Riley set a $74.00 price target on shares of NutriSystem and gave the company a “buy” rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $67.56.
Shares of NutriSystem Inc. (NTRI) traded up $0.60 during mid-day trading on Wednesday, reaching $42.15. 286,721 shares of the company’s stock traded hands, compared to its average volume of 539,776. NutriSystem Inc. has a 52 week low of $34.40 and a 52 week high of $67.95. The stock has a market cap of $1,240.00, a PE ratio of 22.78, a PEG ratio of 0.99 and a beta of 0.72.
NutriSystem announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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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