Cambridge Investment Research Advisors Inc. Takes $26,000 Position in Nerdy Inc. (NYSE:NRDY)

Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Nerdy Inc. (NYSE:NRDY) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,000 shares of the company’s stock, valued at approximately $26,000.

Several other large investors have also made changes to their positions in NRDY. Soviero Asset Management LP bought a new stake in shares of Nerdy in the fourth quarter worth about $243,000. ProShare Advisors LLC grew its holdings in shares of Nerdy by 55.2% during the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after buying an additional 7,594 shares in the last quarter. Nuveen Asset Management LLC boosted its position 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 purchasing an additional 204,760 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Nerdy during the fourth quarter valued at approximately $150,000. Finally, Bank of America Corp DE boosted its position in Nerdy by 41.9% during the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after purchasing an additional 17,889 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christopher C. Swenson sold 53,514 shares of Nerdy stock in a transaction on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $89,368.38. Following the transaction, the insider owned 1,612,388 shares in the company, valued at approximately $2,692,687.96. This trade represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jason H. Pello sold 76,794 shares of Nerdy stock in a transaction on Friday, May 16th. The shares were sold at an average price of $1.67, for a total value of $128,245.98. Following the completion of the transaction, the chief financial officer owned 1,960,134 shares in the company, valued at approximately $3,273,423.78. The trade was a 3.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,556 shares of company stock worth $293,684. Corporate insiders own 50.94% of the company’s stock.

Nerdy Stock Down 2.8%

NRDY opened at $1.56 on Wednesday. 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 $283.71 million, a price-to-earnings ratio of -3.89 and a beta of 1.88. The business has a 50 day moving average of $1.65 and a 200-day moving average of $1.63.

Nerdy (NYSE:NRDY) last announced its 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 company had revenue of $47.60 million for the quarter, compared to analyst estimates of $46.22 million. Nerdy had a negative return on equity of 69.06% and a negative net margin of 24.79%. As a group, analysts expect that Nerdy Inc. will post -0.43 earnings per share for the current year.

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.