Renaissance Technologies LLC Sells 999,250 Shares of Nerdy, Inc. (NYSE:NRDY)

Renaissance Technologies LLC trimmed its holdings in Nerdy, Inc. (NYSE:NRDY - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 919,441 shares of the company's stock after selling 999,250 shares during the period. Renaissance Technologies LLC owned 0.51% of Nerdy worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NRDY. Franklin Resources Inc. raised its position in shares of Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company's stock valued at $4,224,000 after buying an additional 79,624 shares in the last quarter. Geode Capital Management LLC raised its position in Nerdy by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,750,860 shares of the company's stock valued at $2,837,000 after purchasing an additional 32,213 shares in the last quarter. State Street Corp lifted its stake in Nerdy by 0.9% during the third quarter. State Street Corp now owns 1,253,663 shares of the company's stock worth $1,232,000 after purchasing an additional 11,721 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nerdy by 33.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 230,538 shares of the company's stock valued at $373,000 after purchasing an additional 57,846 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in shares of Nerdy by 10.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 155,000 shares of the company's stock valued at $251,000 after purchasing an additional 15,000 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on Nerdy from $1.00 to $1.50 and gave the stock 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.31.

Nerdy Price Performance

NYSE NRDY traded up $0.07 during trading hours on Friday, reaching $1.66. The company's stock had a trading volume of 322,098 shares, compared to its average volume of 1,754,707. The firm has a fifty day simple moving average of $1.51 and a 200-day simple moving average of $1.50. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $2.75. The stock has a market cap of $301.95 million, a P/E ratio of -4.87 and a beta of 1.95.

Insider Buying and Selling at Nerdy

In other news, insider Christopher C. Swenson sold 58,220 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total transaction of $104,796.00. Following the completion of the transaction, the insider now directly owns 1,685,028 shares in the company, valued at $3,033,050.40. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason H. Pello sold 81,381 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total value of $146,485.80. Following the completion of the sale, 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 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 currently owned by company insiders.

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.