State Street Corp Acquires 11,721 Shares of Nerdy, Inc. (NYSE:NRDY)

State Street Corp lifted its holdings in Nerdy, Inc. (NYSE:NRDY) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,253,663 shares of the company’s stock after acquiring an additional 11,721 shares during the period. State Street Corp owned 0.70% of Nerdy worth $1,232,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NRDY. nVerses Capital LLC purchased a new position in Nerdy in the 2nd quarter worth approximately $34,000. SG Americas Securities LLC bought a new stake in shares of Nerdy during the third quarter valued at approximately $29,000. AM Investment Strategies LLC purchased a new position in shares of Nerdy in the third quarter worth $29,000. Rhumbline Advisers boosted its position in shares of Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares during the last quarter. Finally, Algert Global LLC grew its stake in Nerdy by 171.6% during the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock valued at $185,000 after acquiring an additional 70,140 shares in the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Insider Buying and Selling

In other Nerdy news, CEO Charles K. Cohn bought 208,726 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $181,591.62. Following the completion of the transaction, the chief executive officer now directly owns 21,157,650 shares of the company’s stock, valued at approximately $18,407,155.50. This represents a 1.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason H. Pello sold 30,242 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $1.84, for a total value of $55,645.28. Following the transaction, the chief financial officer now directly owns 2,225,186 shares in the company, valued at approximately $4,094,342.24. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. 31.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1.00 price target (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Northland Securities dropped their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 price objective on shares of Nerdy in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.86.

Nerdy Stock Performance

Shares of Nerdy stock opened at $1.57 on Friday. The stock has a market cap of $283.19 million, a price-to-earnings ratio of -4.62 and a beta of 2.00. The stock has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.30. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60.

Nerdy Company 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.