Balyasny Asset Management L.P. Buys New Shares in Nerdy, Inc. (NYSE:NRDY)

Balyasny Asset Management L.P. bought a new position in shares of Nerdy, Inc. (NYSE:NRDY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 92,551 shares of the company’s stock, valued at approximately $150,000. Balyasny Asset Management L.P. owned 0.05% of Nerdy at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Nerdy by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,750,860 shares of the company’s stock valued at $2,837,000 after acquiring an additional 32,213 shares during the last quarter. Northern Trust Corp boosted 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 worth $1,109,000 after acquiring an additional 74,233 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nerdy by 33.5% in the fourth 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 during the period. Citizens Financial Group Inc. RI increased its position in Nerdy by 10.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 155,000 shares of the company’s stock worth $251,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Barclays PLC increased its position in Nerdy by 15.5% during the fourth quarter. Barclays PLC now owns 120,093 shares of the company’s stock worth $195,000 after purchasing an additional 16,133 shares during the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Jason H. Pello sold 81,381 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 $146,485.80. Following the sale, the chief financial officer now directly owns 2,143,805 shares in the company, valued at approximately $3,858,849. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher C. Swenson sold 19,126 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $1.54, for a total value of $29,454.04. Following the transaction, 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. Insiders have sold a total of 265,604 shares of company stock worth $443,076 over the last quarter. 50.94% of the stock is owned by corporate insiders.

Nerdy Stock Down 3.7%

Shares of NRDY stock opened at $1.70 on Monday. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $2.18. The firm’s 50 day moving average price is $1.53 and its two-hundred day moving average price is $1.56. The stock has a market cap of $309.25 million, a price-to-earnings ratio of -4.99 and a beta of 1.92.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. The business had revenue of $47.60 million for the quarter, compared to the consensus estimate of $46.22 million. Nerdy had a negative net margin of 19.31% and a negative return on equity of 47.45%. On average, equities analysts forecast that Nerdy, Inc. will post -0.43 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.