Nuveen LLC Buys New Stake in Nerdy Inc. $NRDY

Key Points

• Nuveen LLC has acquired 357,844 shares of Nerdy Inc. ($NRDY), valued at approximately $508,000, representing about 0.20% of the company's total shares.
• As of August 2023, Wall Street analysts have a consensus rating of "Hold" for Nerdy, with a price target averaging $1.75 per share, although Cantor Fitzgerald recently lowered theirs from $1.75 to $1.50.
• Insider trading activity shows CFO Jason H. Pello sold shares worth $67,139, while Director Abigail Blunt increased her holdings by purchasing shares valued at $34,000.

Nuveen LLC bought a new position in shares of Nerdy Inc. (NYSE:NRDY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 357,844 shares of the company's stock, valued at approximately $508,000. Nuveen LLC owned 0.20% of Nerdy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. purchased a new position in Nerdy during the first quarter valued at approximately $26,000. ProShare Advisors LLC increased its holdings in 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 period. Price T Rowe Associates Inc. MD increased its holdings in Nerdy by 33.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,263 shares of the company's stock valued at $50,000 after buying an additional 7,607 shares during the period. Bayesian Capital Management LP purchased a new position in Nerdy during the fourth quarter valued at approximately $51,000. Finally, Wells Fargo & Company MN increased its holdings in Nerdy by 56.2% during the fourth quarter. Wells Fargo & Company MN now owns 36,122 shares of the company's stock valued at $59,000 after buying an additional 13,000 shares during the period. 39.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NRDY shares. Wall Street Zen downgraded shares of Nerdy from a "hold" rating to a "sell" rating in a research note on Friday. Cantor Fitzgerald lowered their target price on shares of Nerdy from $1.75 to $1.50 and set a "neutral" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $1.75.

Insider Transactions at Nerdy

In other news, insider Christopher C. Swenson sold 37,845 shares of Nerdy stock in a transaction on Monday, August 18th. The shares were sold at an average price of $1.27, for a total transaction of $48,063.15. Following the completion of the sale, the insider directly owned 1,556,825 shares in the company, valued at approximately $1,977,167.75. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Abigail Blunt acquired 25,000 shares of the stock in a transaction dated Friday, August 29th. The shares were bought at an average price of $1.36 per share, with a total value of $34,000.00. Following the completion of the purchase, the director directly owned 226,000 shares of the company's stock, valued at approximately $307,360. This trade represents a 12.44% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 137,959 shares of company stock worth $191,272. Company insiders own 50.94% of the company's stock.

Nerdy Stock Performance

NRDY traded up $0.02 during trading on Friday, hitting $1.35. The stock had a trading volume of 364,779 shares, compared to its average volume of 455,005. The company has a market capitalization of $249.90 million, a PE ratio of -3.45 and a beta of 1.86. Nerdy Inc. has a twelve month low of $0.75 and a twelve month high of $2.18. The stock has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $1.54.

Nerdy (NYSE:NRDY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Nerdy had a negative net margin of 24.91% and a negative return on equity of 77.11%. The business had revenue of $45.26 million during the quarter, compared to the consensus estimate of $46.60 million. Nerdy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Nerdy Inc. will post -0.43 EPS for the current year.

Nerdy Company Profile

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.