Franklin Resources Inc. Reduces Stock Holdings in Nerdy, Inc. (NYSE:NRDY)

Franklin Resources Inc. reduced its stake in shares of Nerdy, Inc. (NYSE:NRDY - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,627,370 shares of the company's stock after selling 473,274 shares during the quarter. Franklin Resources Inc. owned approximately 2.01% of Nerdy worth $5,876,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NRDY. Virtu Financial LLC boosted its stake in shares of Nerdy by 59.1% during the 4th quarter. Virtu Financial LLC now owns 23,294 shares of the company's stock valued at $38,000 after purchasing an additional 8,655 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Nerdy during the 4th quarter valued at approximately $40,000. Quantbot Technologies LP grew its holdings in shares of Nerdy by 14,175.0% during the 4th quarter. Quantbot Technologies LP now owns 28,550 shares of the company's stock worth $46,000 after acquiring an additional 28,350 shares during the period. Moloney Securities Asset Management LLC raised its position in shares of Nerdy by 53.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 28,725 shares of the company's stock worth $47,000 after acquiring an additional 10,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Nerdy by 166.1% in the 4th quarter. JPMorgan Chase & Co. now owns 89,285 shares of the company's stock valued at $145,000 after purchasing an additional 55,735 shares during the period. 39.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.31.

Insider Buying and Selling at Nerdy

In other news, CFO Jason H. Pello sold 81,381 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total value of $146,485.80. Following the completion of the transaction, the chief financial officer now owns 2,143,805 shares in the company, valued at $3,858,849. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher C. Swenson sold 19,126 shares of the 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 sale, the insider now directly owns 1,665,902 shares in the company, valued at $2,565,489.08. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 265,604 shares of company stock worth $443,076. 50.94% of the stock is owned by corporate insiders.

Nerdy Stock Down 0.3 %

Shares of NYSE:NRDY traded down $0.01 on Tuesday, hitting $1.52. 84,292 shares of the company traded hands, compared to its average volume of 1,759,012. The company has a market cap of $276.41 million, a PE ratio of -4.46 and a beta of 1.95. The stock has a 50 day simple moving average of $1.59 and a 200-day simple moving average of $1.45. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $2.84.

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.