Nerdy, Inc. (NYSE:NRDY) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in shares of Nerdy, Inc. (NYSE:NRDY) by 33.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,263 shares of the company’s stock after purchasing an additional 7,607 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Nerdy were worth $50,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NRDY. Barclays PLC boosted 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 acquiring an additional 16,133 shares during the last quarter. Covestor Ltd acquired a new position in Nerdy during the fourth quarter worth about $26,000. Wells Fargo & Company MN boosted its position in Nerdy by 56.2% during the fourth quarter. Wells Fargo & Company MN now owns 36,122 shares of the company’s stock worth $59,000 after acquiring an additional 13,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Nerdy by 1.9% in the 4th 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 during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in 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 last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Nerdy news, insider Christopher C. Swenson sold 58,220 shares of Nerdy stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total transaction of $104,796.00. Following the transaction, the insider now directly owns 1,685,028 shares of the company’s stock, valued at $3,033,050.40. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason H. Pello sold 81,381 shares of Nerdy stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total transaction of $146,485.80. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,604 shares of company stock worth $443,076. 50.94% of the stock is owned by insiders.

Nerdy Trading Down 3.7%

Shares of Nerdy stock opened at $1.70 on Monday. The company has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $1.56. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $2.18. 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 quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The firm had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $46.22 million. Nerdy had a negative net margin of 19.31% and a negative return on equity of 47.45%. On average, analysts forecast that Nerdy, Inc. will post -0.43 earnings per share for the current fiscal year.

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.