Millennium Management LLC Reduces Stake in Nerdy, Inc. (NYSE:NRDY)

Millennium Management LLC decreased its stake in shares of Nerdy, Inc. (NYSE:NRDY) by 18.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,415,439 shares of the company’s stock after selling 324,119 shares during the period. Millennium Management LLC owned 0.78% of Nerdy worth $2,293,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Nerdy by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,263 shares of the company’s stock valued at $50,000 after purchasing an additional 7,607 shares during the last quarter. Virtu Financial LLC grew its position in Nerdy by 59.1% during the 4th quarter. Virtu Financial LLC now owns 23,294 shares of the company’s stock worth $38,000 after acquiring an additional 8,655 shares during the last quarter. Moloney Securities Asset Management LLC grew its position in Nerdy by 53.4% during the 4th quarter. Moloney Securities Asset Management LLC now owns 28,725 shares of the company’s stock worth $47,000 after acquiring an additional 10,000 shares during the last quarter. Wells Fargo & Company MN grew its position in Nerdy by 56.2% during the 4th 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. Finally, Citizens Financial Group Inc. RI grew its position in Nerdy by 10.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 155,000 shares of the company’s stock worth $251,000 after acquiring an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted 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 research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.31.

Nerdy Trading Down 2.5%

Shares of NYSE NRDY opened at $1.73 on Monday. The stock has a market capitalization of $314.72 million, a PE ratio of -5.07 and a beta of 1.92. The stock’s fifty day simple moving average is $1.55 and its two-hundred day simple moving average is $1.61. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $2.18.

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

Insider Activity

In other news, CFO Jason H. Pello sold 76,794 shares of Nerdy stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $1.67, for a total transaction of $128,245.98. Following the sale, the chief financial officer now owns 1,960,134 shares of the company’s stock, valued at approximately $3,273,423.78. The trade was a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher C. Swenson sold 53,514 shares of Nerdy stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $1.67, for a total transaction of $89,368.38. Following the sale, the insider now directly owns 1,612,388 shares in the company, valued at approximately $2,692,687.96. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 256,311 shares of company stock worth $409,409 in the last ninety days. 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.