State Street Corp Increases Holdings in Nerdy, Inc. (NYSE:NRDY)

State Street Corp boosted its position in shares of Nerdy, Inc. (NYSE:NRDY) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,253,663 shares of the company’s stock after purchasing an additional 11,721 shares during the quarter. State Street Corp’s holdings in Nerdy were worth $1,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Nerdy by 28.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock worth $437,000 after acquiring an additional 58,152 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Nerdy during the second quarter valued at approximately $34,000. Rhumbline Advisers boosted its stake in shares of Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after purchasing an additional 8,834 shares in the last quarter. XTX Topco Ltd increased its holdings in Nerdy by 1,064.9% during the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock valued at $307,000 after buying an additional 168,206 shares during the period. Finally, Marshall Wace LLP raised its stake in Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after buying an additional 224,049 shares in the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NRDY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 target price on shares of Nerdy in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Northland Securities decreased their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.86.

Insider Transactions at Nerdy

In other news, CFO Jason H. Pello sold 70,490 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1.06, for a total value of $74,719.40. Following the sale, the chief financial officer now directly owns 2,255,428 shares of the company’s stock, valued at $2,390,753.68. This represents a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles K. Cohn bought 8,338,206 shares of Nerdy stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $0.90 per share, with a total value of $7,504,385.40. Following the acquisition, the chief executive officer now owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. The trade was a 66.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. Insiders own 31.35% of the company’s stock.

Nerdy Stock Down 3.1 %

NRDY stock opened at $1.57 on Friday. The stock has a market capitalization of $283.19 million, a PE ratio of -4.62 and a beta of 2.00. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.60. The firm has a 50 day moving average of $1.34 and a 200 day moving average of $1.30.

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.