NerdWallet Announces New $50 Million Share Repurchase Program
NerdWallet (NRDS) has announced a new $50 million share repurchase program, replacing its previous $30 million program which had been exhausted. The company's Board of Directors has authorized this program, allowing NerdWallet to purchase its Class A common stock from time to time, based on market conditions. Repurchases may be made in the open market, through private negotiations, or other means compliant with securities laws. The program has no time limit and can be amended, suspended, or discontinued at any time. The amount and timing of repurchases will be determined by management, considering factors such as market conditions, regulatory requirements, and stock prices.
NerdWallet (NRDS) ha annunciato un nuovo programma di riacquisto di azioni da 50 milioni di dollari, che sostituisce il precedente programma da 30 milioni di dollari, ormai esaurito. Il Consiglio di Amministrazione dell'azienda ha autorizzato questo programma, consentendo a NerdWallet di acquistare le sue azioni ordinarie di Classe A di tanto in tanto, a seconda delle condizioni di mercato. I riacquisti possono avvenire nel mercato aperto, attraverso negoziazioni private o altri mezzi conformi alle leggi sui titoli. Il programma non ha un limite di tempo e può essere modificato, sospeso o interrotto in qualsiasi momento. L'importo e il momento dei riacquisti saranno determinati dalla direzione, tenendo conto di fattori come le condizioni di mercato, i requisiti normativi e i prezzi delle azioni.
NerdWallet (NRDS) ha anunciado un nuevo programa de recompra de acciones de 50 millones de dólares, reemplazando su anterior programa de 30 millones de dólares que ya se había agotado. La Junta de Directores de la compañía ha autorizado este programa, permitiendo a NerdWallet comprar sus acciones comunes Clase A de vez en cuando, basándose en las condiciones del mercado. Las recompras pueden realizarse en el mercado abierto, a través de negociaciones privadas u otros medios que cumplan con las leyes de valores. El programa no tiene un límite de tiempo y puede ser modificado, suspendido o interrumpido en cualquier momento. La cantidad y el momento de las recompras serán determinados por la dirección, considerando factores como las condiciones del mercado, los requisitos regulatorios y los precios de las acciones.
NerdWallet (NRDS)는 5천만 달러 주식 매입 프로그램을 발표하며, 이전에 시행되었던 3천만 달러 프로그램을 대체합니다. 이 회사의 이사회는 이 프로그램을 승인하였으며, NerdWallet은 시장 상황에 따라 시간마다 클래스 A 보통주를 매입할 수 있습니다. 매입은 공개 시장, 사적인 협상 또는 증권법을 준수하는 기타 수단을 통해 이루어질 수 있습니다. 이 프로그램에는 시간 제한이 없으며, 언제든지 수정, 중단 또는 종료될 수 있습니다. 매입의 양과 시기는 경영진에 의해 결정되며, 시장 상황, 규제 요건 및 주가 등의 요인을 고려합니다.
NerdWallet (NRDS) a annoncé un nouveau programme de rachat d'actions de 50 millions de dollars, remplaçant son ancien programme de 30 millions de dollars qui avait été épuisé. Le conseil d'administration de l'entreprise a autorisé ce programme, permettant à NerdWallet d'acheter de temps en temps ses actions ordinaires de Classe A, en fonction des conditions du marché. Les rachats peuvent être effectués sur le marché ouvert, par le biais de négociations privées ou par d'autres moyens conformes aux lois sur les valeurs mobilières. Le programme n'a pas de limite de temps et peut être modifié, suspendu ou interrompu à tout moment. Le montant et le moment des rachats seront déterminés par la direction, prenant en compte des facteurs tels que les conditions du marché, les exigences réglementaires et les prix des actions.
NerdWallet (NRDS) hat ein neues Aktienrückkaufprogramm über 50 Millionen Dollar angekündigt, das das vorherige Programm über 30 Millionen Dollar ersetzt, das bereits erschöpft war. Der Vorstand des Unternehmens hat dieses Programm genehmigt, wodurch NerdWallet von Zeit zu Zeit basierend auf den Marktbedingungen seine Aktien der Klasse A zurückkaufen kann. Rückkäufe können auf dem offenen Markt, durch private Verhandlungen oder andere Mittel, die den Wertpapiergesetzen entsprechen, erfolgen. Das Programm hat keine zeitliche Begrenzung und kann jederzeit geändert, ausgesetzt oder beendet werden. Die Höhe und der Zeitpunkt der Rückkäufe werden von der Geschäftsführung unter Berücksichtigung von Faktoren wie Marktbedingungen, gesetzlichen Anforderungen und Aktienkursen festgelegt.
- New $50 million share repurchase program authorized
- Increased buyback capacity from previous $30 million program
- Flexibility in repurchase timing and method
- No time limit on the program, allowing for strategic implementation
- Potential reduction in cash reserves for other investments or operations
- No guarantee of share price appreciation despite buyback
Insights
NerdWallet's $50 million share repurchase program signals confidence in the company's financial health and future prospects. This move, replacing an exhausted $30 million program, demonstrates a 66% increase in buyback capacity. Share repurchases can be positive for investors as they reduce the number of outstanding shares, potentially increasing earnings per share and stock value. However, it's important to note that the program's execution is discretionary and subject to market conditions.
The flexibility in timing and amount of repurchases allows NerdWallet to strategically manage its capital allocation. This could be particularly beneficial given the company's position in the competitive fintech sector. Investors should monitor how this program impacts NerdWallet's cash reserves and its ability to invest in growth initiatives, as balancing shareholder returns with long-term business development is key for sustained success.
NerdWallet's decision to implement a larger share repurchase program may indicate management's belief that the stock is undervalued. This move could potentially boost investor confidence and support the stock price in the short term. However, it's essential to consider the broader market context and NerdWallet's competitive position in the fintech industry.
As a provider of financial guidance to consumers and SMBs, NerdWallet's performance is closely tied to overall economic conditions and consumer financial health. Investors should assess how macroeconomic factors, such as interest rates and consumer spending patterns, might impact the company's growth prospects. Additionally, the effectiveness of this capital allocation strategy should be evaluated against alternative uses of funds, such as investments in technology or market expansion, which could drive long-term value creation.
The Company’s proposed repurchases may be made in the open market, in privately negotiated transactions, or otherwise in accordance with applicable securities laws and other requirements. The amount and timing of any repurchases will be determined at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations. The share repurchase program has no time limit, does not obligate the Company to repurchase any dollar amount or number of shares of Class A common stock, and may be amended, suspended or discontinued at any time. This new
ABOUT NERDWALLET
NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for all of life’s financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves. From finding the best credit card to buying a house, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven app, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. NerdWallet is available for consumers in the
“NerdWallet” is a trademark of NerdWallet, Inc. All rights reserved. Other names and trademarks used herein may be trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements about us and our share repurchase program that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions.
You should not rely on forward-looking statements as predictions or guarantees of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results. Factors that may cause actual results or outcomes to be materially different from any future results expressed or implied by these forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2023, and in subsequent filings we make with the SEC from time to time. The forward-looking statements made in this press release speak only as of the date hereof. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240909456180/en/
Investors:
Caitlin MacNamee
ir@nerdwallet.com
Press:
Sara Colvin
press@nerdwallet.com
Source: NerdWallet, Inc.
FAQ
What is the size of NerdWallet's (NRDS) new share repurchase program?
How does the new NRDS buyback program compare to the previous one?
Is there a time limit on NerdWallet's (NRDS) share repurchase program?
How will NerdWallet (NRDS) conduct its share repurchases?
