Millennium Management LLC Sells 324,119 Shares of Nerdy, Inc. (NYSE:NRDY)

Millennium Management LLC decreased its holdings in shares of Nerdy, Inc. (NYSE:NRDY - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,415,439 shares of the company's stock after selling 324,119 shares during the quarter. Millennium Management LLC owned 0.78% of Nerdy worth $2,293,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd acquired a new position in Nerdy during the fourth quarter worth about $26,000. Virtu Financial LLC raised its stake in 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 acquiring an additional 8,655 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Nerdy during the fourth quarter worth about $40,000. Quantbot Technologies LP grew its holdings in shares of Nerdy by 14,175.0% during the fourth quarter. Quantbot Technologies LP now owns 28,550 shares of the company's stock worth $46,000 after purchasing an additional 28,350 shares during the last quarter. Finally, Moloney Securities Asset Management LLC grew 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 last quarter. Institutional investors and hedge funds own 39.10% of the company's stock.

Nerdy Trading Down 0.9%

NYSE:NRDY traded down $0.02 on Thursday, reaching $1.71. 415,933 shares of the stock traded hands, compared to its average volume of 1,669,253. The firm has a market capitalization of $311.07 million, a price-to-earnings ratio of -5.01 and a beta of 1.92. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $2.18. The company's 50 day moving average is $1.56 and its 200-day moving average is $1.62.

Nerdy (NYSE:NRDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) EPS 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%. On average, equities research analysts forecast that Nerdy, Inc. will post -0.43 EPS for the current fiscal year.

Insider Transactions at Nerdy

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

Analyst Ratings Changes

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

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.