Millennium Management LLC Has $2.29 Million Stake in Nerdy, Inc. (NYSE:NRDY)

Millennium Management LLC reduced its stake in shares of Nerdy, Inc. (NYSE:NRDY - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Balyasny Asset Management L.P. acquired a new stake in Nerdy during the fourth quarter worth about $150,000. Bank of America Corp DE lifted its holdings in shares of Nerdy by 41.9% during the 4th quarter. Bank of America Corp DE now owns 60,565 shares of the company's stock worth $98,000 after acquiring an additional 17,889 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Nerdy during the 4th quarter worth approximately $51,000. Jane Street Group LLC boosted its position in shares of Nerdy by 70.6% during the 4th quarter. Jane Street Group LLC now owns 79,875 shares of the company's stock worth $129,000 after acquiring an additional 33,061 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Nerdy by 12.2% in the fourth quarter. Northern Trust Corp now owns 684,590 shares of the company's stock valued at $1,109,000 after acquiring an additional 74,233 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company's stock.

Nerdy Trading Up 3.3%

NRDY traded up $0.06 on Tuesday, reaching $1.73. The stock had a trading volume of 508,655 shares, compared to its average volume of 1,676,557. The company has a market capitalization of $314.72 million, a price-to-earnings ratio of -5.07 and a beta of 1.92. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $2.18. The firm has a 50-day moving average of $1.55 and a 200-day moving average of $1.62.

Nerdy (NYSE:NRDY - Get Free Report) last released its quarterly 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 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%. Sell-side analysts anticipate that Nerdy, Inc. will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jason H. Pello sold 31,877 shares of Nerdy stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $1.54, for a total value of $49,090.58. Following the transaction, the chief financial officer now directly owns 2,036,928 shares of the company's stock, valued at $3,136,869.12. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher C. Swenson sold 53,514 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were 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 owns 1,612,388 shares in the company, valued at $2,692,687.96. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 256,311 shares of company stock valued at $409,409 in the last ninety days. 50.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their target price on Nerdy from $1.00 to $1.50 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.