Ritholtz Wealth Management Lowers Holdings in Nerdy Inc. (NYSE:NRDY)

Ritholtz Wealth Management decreased its stake in shares of Nerdy Inc. (NYSE:NRDY) by 18.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,358 shares of the company’s stock after selling 61,898 shares during the quarter. Ritholtz Wealth Management owned about 0.15% of Nerdy worth $398,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Nerdy by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,750,860 shares of the company’s stock valued at $2,837,000 after buying an additional 32,213 shares during the last quarter. Northern Trust Corp raised its stake in Nerdy by 12.2% during the fourth quarter. Northern Trust Corp now owns 684,590 shares of the company’s stock valued at $1,109,000 after buying an additional 74,233 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Nerdy by 99.5% during the fourth quarter. Nuveen Asset Management LLC now owns 410,523 shares of the company’s stock valued at $665,000 after buying an additional 204,760 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nerdy by 33.5% during the fourth 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 during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in Nerdy by 10.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 155,000 shares of the company’s stock valued at $251,000 after buying an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Insider Buying and Selling at Nerdy

In other Nerdy news, insider Christopher C. Swenson sold 53,514 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $1.67, for a total transaction of $89,368.38. Following the completion of the sale, the insider now owns 1,612,388 shares of the company’s stock, valued at approximately $2,692,687.96. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jason H. Pello sold 76,794 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $1.67, for a total value of $128,245.98. Following the sale, the chief financial officer now directly owns 1,960,134 shares of the company’s stock, valued at $3,273,423.78. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,556 shares of company stock valued at $293,684. Company insiders own 50.94% of the company’s stock.

Nerdy Price Performance

Shares of NRDY opened at $1.62 on Friday. Nerdy Inc. has a one year low of $0.73 and a one year high of $2.18. The firm has a market capitalization of $294.66 million, a P/E ratio of -4.04 and a beta of 1.92. The business has a fifty day moving average of $1.63 and a 200 day moving average of $1.64.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.05. Nerdy had a negative return on equity of 69.06% and a negative net margin of 24.79%. The company had revenue of $47.60 million during the quarter, compared to analyst estimates of $46.22 million. Analysts expect that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Nerdy

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.