Renaissance Technologies LLC Trims Holdings in Nerdy, Inc. (NYSE:NRDY)

Renaissance Technologies LLC lowered its position in Nerdy, Inc. (NYSE:NRDY - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 919,441 shares of the company's stock after selling 999,250 shares during the period. Renaissance Technologies LLC owned about 0.51% of Nerdy worth $1,489,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Franklin Resources Inc. raised its position in Nerdy by 2.0% during the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company's stock worth $4,224,000 after acquiring an additional 79,624 shares during the period. Geode Capital Management LLC increased its stake in shares of Nerdy by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,750,860 shares of the company's stock worth $2,837,000 after purchasing an additional 32,213 shares in the last quarter. State Street Corp raised its position in shares of Nerdy by 0.9% during the 3rd 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. lifted its stake in 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 buying an additional 57,846 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in Nerdy by 10.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 155,000 shares of the company's stock worth $251,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company's stock.

Analysts Set New Price Targets

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

Nerdy Price Performance

Nerdy stock traded down $0.01 during trading on Thursday, reaching $1.59. 391,219 shares of the company were exchanged, compared to its average volume of 1,749,066. The stock's 50 day simple moving average is $1.51 and its two-hundred day simple moving average is $1.49. The company has a market capitalization of $289.18 million, a P/E ratio of -4.66 and a beta of 1.95. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $2.75.

Insider Transactions at Nerdy

In related news, insider Christopher C. Swenson sold 58,220 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total value of $104,796.00. Following the completion of the transaction, the insider now directly owns 1,685,028 shares in the company, valued at approximately $3,033,050.40. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason H. Pello sold 31,877 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 $49,090.58. Following the completion of the sale, the chief financial officer now owns 2,036,928 shares in the company, valued at $3,136,869.12. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 265,604 shares of company stock worth $443,076 in the last quarter. Company 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.