Divisar Capital Management LLC Sells 685,429 Shares of Nerdy, Inc. (NYSE:NRDY)

Divisar Capital Management LLC cut its stake in Nerdy, Inc. (NYSE:NRDY) by 12.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,768,065 shares of the company’s stock after selling 685,429 shares during the period. Nerdy accounts for approximately 1.5% of Divisar Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Divisar Capital Management LLC’s holdings in Nerdy were worth $7,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in Nerdy in the 2nd quarter valued at about $34,000. Bayesian Capital Management LP bought a new stake in shares of Nerdy during the first quarter worth approximately $101,000. Rhumbline Advisers grew its position in shares of Nerdy by 11.6% in 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 during the last quarter. XTX Topco Ltd grew its position in shares of Nerdy by 1,064.9% in the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock valued at $307,000 after purchasing an additional 168,206 shares during the last quarter. Finally, S Squared Technology LLC increased its stake in shares of Nerdy by 582.6% during the fourth quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock worth $702,000 after purchasing an additional 174,786 shares during the period. Institutional investors and hedge funds own 39.10% of the company’s stock.

Insider Transactions at Nerdy

In related news, CFO Jason H. Pello sold 30,282 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $0.99, for a total value of $29,979.18. Following the sale, the chief financial officer now directly owns 2,325,918 shares of the company’s stock, valued at $2,302,658.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Abigail Blunt purchased 49,045 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the acquisition, the director now owns 50,045 shares of the company’s stock, valued at $45,540.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jason H. Pello sold 30,282 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.99, for a total value of $29,979.18. Following the completion of the transaction, the chief financial officer now owns 2,325,918 shares of the company’s stock, valued at $2,302,658.82. The disclosure for this sale can be found here. In the last quarter, insiders acquired 13,212,528 shares of company stock valued at $12,063,972. Corporate insiders own 31.35% of the company’s stock.

Nerdy Trading Down 2.5 %

Shares of NYSE:NRDY opened at $0.94 on Thursday. The firm has a 50 day moving average of $1.21 and a 200-day moving average of $1.87. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.91. The stock has a market capitalization of $168.24 million, a PE ratio of -3.37 and a beta of 1.68.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.04. The business had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, research analysts predict that Nerdy, Inc. will post -0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NRDY has been the topic of a number of research reports. Cantor Fitzgerald raised Nerdy to a “strong-buy” rating in a report on Tuesday, August 13th. Northland Capmk cut shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC lowered their price target on shares of Nerdy from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut shares of Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.58.

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.