Nuveen Asset Management LLC Boosts Stock Holdings in Nerdy, Inc. (NYSE:NRDY)

Nuveen Asset Management LLC boosted its position in shares of Nerdy, Inc. (NYSE:NRDY - Free Report) by 99.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,523 shares of the company's stock after buying an additional 204,760 shares during the period. Nuveen Asset Management LLC owned 0.23% of Nerdy worth $665,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new stake in Nerdy during the 4th quarter worth approximately $150,000. Bank of America Corp DE grew its position in shares of Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company's stock valued at $98,000 after purchasing an additional 17,889 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Nerdy in the fourth quarter valued at approximately $51,000. Jane Street Group LLC grew its position in shares of Nerdy by 70.6% in the fourth quarter. Jane Street Group LLC now owns 79,875 shares of the company's stock valued at $129,000 after purchasing an additional 33,061 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of 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 purchasing an additional 74,233 shares in the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Nerdy Stock Performance

Shares of Nerdy stock opened at $1.71 on Friday. 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 fifty-two week low of $0.73 and a fifty-two week high of $2.18. The stock has a 50 day moving average of $1.56 and a 200 day moving average of $1.62.

Nerdy (NYSE:NRDY - Get Free Report) last issued its quarterly earnings data 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. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. The company had revenue of $47.60 million during the quarter, compared to analyst estimates of $46.22 million. Analysts forecast that Nerdy, Inc. will post -0.43 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher C. Swenson sold 53,514 shares of the stock in a transaction 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 sale, the insider now directly owns 1,612,388 shares in the company, valued at approximately $2,692,687.96. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason H. Pello sold 76,794 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $1.67, for a total value of $128,245.98. Following the completion of the sale, the chief financial officer now owns 1,960,134 shares in the company, valued at approximately $3,273,423.78. The trade was a 3.77% 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 worth $409,409 over the last ninety days. Corporate insiders own 50.94% of the company's stock.

Nerdy 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.

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