150,000 Shares in Nerdy, Inc. (NYSE:NRDY) Acquired by Soviero Asset Management LP

Soviero Asset Management LP bought a new stake in Nerdy, Inc. (NYSE:NRDY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of Nerdy by 55.2% during the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company's stock valued at $35,000 after buying an additional 7,594 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Nerdy by 33.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,263 shares of the company's stock worth $50,000 after purchasing an additional 7,607 shares during the period. Virtu Financial LLC boosted its holdings in shares of Nerdy by 59.1% during the fourth quarter. Virtu Financial LLC now owns 23,294 shares of the company's stock worth $38,000 after purchasing an additional 8,655 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Nerdy by 53.4% during the fourth quarter. Moloney Securities Asset Management LLC now owns 28,725 shares of the company's stock worth $47,000 after purchasing an additional 10,000 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Nerdy by 56.2% during the fourth quarter. Wells Fargo & Company MN now owns 36,122 shares of the company's stock worth $59,000 after purchasing an additional 13,000 shares during the period. Institutional investors own 39.10% of the company's stock.

Nerdy Trading Up 0.9%

Nerdy stock traded up $0.02 during trading hours on Friday, hitting $1.61. 466,812 shares of the stock traded hands, compared to its average volume of 1,687,692. The firm's 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.57. The company has a market cap of $292.83 million, a PE ratio of -4.72 and a beta of 1.92. 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 posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.05. The business had revenue of $47.60 million for the quarter, compared to analysts' expectations of $46.22 million. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. On average, sell-side analysts expect that Nerdy, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Nerdy

In other news, CFO Jason H. Pello sold 76,794 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $128,245.98. Following the sale, the chief financial officer now directly owns 1,960,134 shares of the company's stock, valued at $3,273,423.78. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher C. Swenson sold 53,514 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $89,368.38. Following the completion of the sale, the insider now directly owns 1,612,388 shares in the company, valued at approximately $2,692,687.96. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 256,311 shares of company stock valued at $409,409. 50.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.