Soviero Asset Management LP Takes $243,000 Position in Nerdy, Inc. (NYSE:NRDY)

Soviero Asset Management LP acquired a new position in Nerdy, Inc. (NYSE:NRDY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 150,000 shares of the company's stock, valued at approximately $243,000. Soviero Asset Management LP owned about 0.08% of Nerdy as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company's stock valued at $102,000 after buying an additional 79,808 shares during the last quarter. Sargent Investment Group LLC purchased a new stake in Nerdy during the 4th quarter valued at $153,000. Moloney Securities Asset Management LLC raised its stake in Nerdy by 53.4% during the 4th quarter. Moloney Securities Asset Management LLC now owns 28,725 shares of the company's stock valued at $47,000 after buying an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nerdy by 33.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 230,538 shares of the company's stock valued at $373,000 after buying an additional 57,846 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in Nerdy by 10.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 155,000 shares of the company's stock valued at $251,000 after buying an additional 15,000 shares during the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nerdy

In other Nerdy news, insider Christopher C. Swenson sold 19,126 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.54, for a total transaction of $29,454.04. Following the completion of the transaction, the insider now owns 1,665,902 shares of the company's stock, valued at $2,565,489.08. This represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason H. Pello sold 75,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $1.51, for a total transaction of $113,250.00. Following the transaction, the chief financial officer now directly owns 2,068,805 shares of the company's stock, valued at $3,123,895.55. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,311 shares of company stock valued at $409,409 in the last 90 days. Insiders own 50.94% of the company's stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their target price on shares of Nerdy from $1.00 to $1.50 and gave the company a "neutral" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $2.31.

Nerdy Trading Up 1.9%

Nerdy stock traded up $0.03 during mid-day trading on Thursday, hitting $1.58. The stock had a trading volume of 363,916 shares, compared to its average volume of 1,689,884. The firm has a market capitalization of $288.27 million, a P/E ratio of -4.65 and a beta of 1.92. The firm's 50 day moving average is $1.54 and its 200 day moving average is $1.56. Nerdy, Inc. has a one year low of $0.73 and a one year high of $2.18.

Nerdy (NYSE:NRDY - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The company had revenue of $47.60 million during the quarter, compared to the consensus estimate of $46.22 million. Nerdy had a negative net margin of 19.31% and a negative return on equity of 47.45%. As a group, equities research analysts forecast that Nerdy, Inc. will post -0.43 earnings per share for the current year.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.