Traders Buy Large Volume of Put Options on NutriSystem (NTRI)

NutriSystem Inc. (NASDAQ:NTRI) was the recipient of unusually large options trading activity on Monday. Traders acquired 1,045 put options on the company. This is an increase of approximately 1,223% compared to the average volume of 79 put options.

Shares of NutriSystem (NASDAQ:NTRI) traded up $0.60 during trading on Wednesday, hitting $42.15. 286,571 shares of the company traded hands, compared to its average volume of 539,776. NutriSystem has a one year low of $34.40 and a one year high of $67.95. The company has a market capitalization of $1,240.00, a PE ratio of 22.86, a price-to-earnings-growth ratio of 0.99 and a beta of 0.72.

NutriSystem announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other NutriSystem news, CEO Dawn M. Zier sold 30,006 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $52.36, for a total transaction of $1,571,114.16. Following the sale, the chief executive officer now owns 224,659 shares of the company’s stock, valued at $11,763,145.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dawn M. Zier sold 11,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $49.94, for a total transaction of $549,340.00. Following the sale, the insider now directly owns 210,666 shares in the company, valued at approximately $10,520,660.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,006 shares of company stock worth $3,383,254. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently modified their holdings of NTRI. Amalgamated Bank grew its stake in shares of NutriSystem by 6.1% in the second quarter. Amalgamated Bank now owns 4,091 shares of the company’s stock worth $213,000 after purchasing an additional 236 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in NutriSystem by 138.6% during the second quarter. UBS Asset Management Americas Inc. now owns 15,361 shares of the company’s stock valued at $800,000 after acquiring an additional 8,922 shares during the last quarter. Vanguard Group Inc. boosted its position in NutriSystem by 50.3% during the second quarter. Vanguard Group Inc. now owns 2,458,686 shares of the company’s stock valued at $127,974,000 after acquiring an additional 823,221 shares during the last quarter. California Public Employees Retirement System boosted its position in NutriSystem by 17.4% during the second quarter. California Public Employees Retirement System now owns 12,800 shares of the company’s stock valued at $666,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in NutriSystem by 26.3% during the second quarter. Parametric Portfolio Associates LLC now owns 97,730 shares of the company’s stock valued at $5,087,000 after acquiring an additional 20,367 shares during the last quarter.

NTRI has been the topic of a number of research reports. B. Riley set a $74.00 target price on shares of NutriSystem and gave the stock a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research cut shares of NutriSystem from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. BidaskClub raised shares of NutriSystem from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. DA Davidson reissued a “buy” rating and issued a $80.00 price objective on shares of NutriSystem in a research note on Friday, December 22nd. Finally, Lake Street Capital set a $73.00 price objective on shares of NutriSystem and gave the stock a “buy” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $67.56.

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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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