Geode Capital Management LLC Acquires 145,575 Shares of Nerdy, Inc. (NYSE:NRDY)

Geode Capital Management LLC lifted its stake in Nerdy, Inc. (NYSE:NRDY) by 9.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,718,647 shares of the company’s stock after acquiring an additional 145,575 shares during the period. Geode Capital Management LLC’s holdings in Nerdy were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Greenvale Capital LLP increased its position in Nerdy by 6.0% in the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after buying an additional 509,004 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Nerdy by 12.9% during the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after acquiring an additional 224,049 shares during the period. Millennium Management LLC grew its stake in shares of Nerdy by 382.0% during the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after acquiring an additional 1,486,910 shares during the period. Clearline Capital LP increased its holdings in Nerdy by 34.3% in the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after acquiring an additional 471,603 shares in the last quarter. Finally, State Street Corp raised its stake in Nerdy by 0.9% during the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after acquiring an additional 11,721 shares during the period. 39.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. Northland Securities lowered their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. One equities 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 company. According to data from MarketBeat, Nerdy currently has an average rating of “Hold” and an average target price of $2.86.

Nerdy Stock Performance

Shares of NRDY opened at $1.67 on Thursday. The stock has a market capitalization of $301.25 million, a PE ratio of -4.91 and a beta of 1.96. The company’s fifty day moving average is $1.42 and its 200 day moving average is $1.30. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

Insiders Place Their Bets

In related news, CFO Jason H. Pello sold 30,242 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $1.84, for a total transaction of $55,645.28. Following the sale, the chief financial officer now owns 2,225,186 shares in the company, valued at approximately $4,094,342.24. This represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn acquired 208,726 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $0.87 per share, with a total value of $181,591.62. Following the completion of the purchase, the chief executive officer now directly owns 21,157,650 shares of the company’s stock, valued at $18,407,155.50. This trade represents a 1.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 13,455,750 shares of company stock valued at $15,530,190 and sold 160,732 shares valued at $211,015. Corporate insiders own 31.35% of the company’s stock.

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.