NutriSystem Inc. (NASDAQ:NTRI) was the target of some unusual options trading activity on Monday. Stock investors bought 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 midday trading on Wednesday, hitting $42.15. 286,571 shares of the stock traded hands, compared to its average volume of 539,776. NutriSystem has a 52-week low of $34.40 and a 52-week high of $67.95. The firm has a market capitalization of $1,240.00, a price-to-earnings ratio of 22.86, a P/E/G ratio of 0.99 and a beta of 0.72.

NutriSystem declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Several brokerages have recently weighed in on NTRI. BidaskClub upgraded shares of NutriSystem from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Zacks Investment Research lowered shares of NutriSystem from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. DA Davidson reiterated a “buy” rating and set a $80.00 price objective on shares of NutriSystem in a report on Friday, December 22nd. Lake Street Capital set a $73.00 price objective on shares of NutriSystem and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, B. Riley set a $74.00 price objective on shares of NutriSystem and gave the company a “buy” rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. NutriSystem presently has a consensus rating of “Buy” and an average price target of $67.56.

In other NutriSystem news, CEO Dawn M. Zier sold 30,006 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dawn M. Zier sold 11,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were 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. Insiders have sold 66,006 shares of company stock worth $3,383,254 in the last ninety days. Insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NTRI. Carillon Tower Advisers Inc. acquired a new stake in shares of NutriSystem in the 4th quarter worth about $96,114,000. Vanguard Group Inc. raised its holdings in shares of NutriSystem by 50.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,458,686 shares of the company’s stock worth $127,974,000 after acquiring an additional 823,221 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of NutriSystem by 81.5% in the 4th quarter. Wells Fargo & Company MN now owns 737,760 shares of the company’s stock worth $38,806,000 after acquiring an additional 331,273 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of NutriSystem by 502.9% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 308,283 shares of the company’s stock worth $17,233,000 after acquiring an additional 257,150 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of NutriSystem in the 2nd quarter worth about $233,000.

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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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