Clearline Capital LP Buys 471,603 Shares of Nerdy, Inc. (NYSE:NRDY)

Clearline Capital LP boosted its position in shares of Nerdy, Inc. (NYSE:NRDY) by 34.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,846,737 shares of the company’s stock after acquiring an additional 471,603 shares during the period. Clearline Capital LP’s holdings in Nerdy were worth $3,084,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings 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 worth $3,133,000 after purchasing an additional 1,486,910 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Nerdy by 286.7% in the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock worth $434,000 after purchasing an additional 192,635 shares during the period. Marshall Wace LLP boosted its stake in Nerdy by 12.9% during 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. XTX Topco Ltd boosted its stake in Nerdy by 1,064.9% during the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock worth $307,000 after buying an additional 168,206 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after buying an additional 8,834 shares during the period. Institutional investors and hedge funds own 39.10% of the company’s stock.

Insider Activity

In related news, CFO Jason H. Pello sold 50,903 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $0.85, for a total value of $43,267.55. Following the completion of the transaction, the chief financial officer now owns 2,356,200 shares in the company, valued at approximately $2,002,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jason H. Pello sold 50,903 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $0.85, for a total value of $43,267.55. Following the transaction, the chief financial officer now owns 2,356,200 shares of the company’s stock, valued at approximately $2,002,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles K. Cohn purchased 10,993,192 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $0.89 per share, with a total value of $9,783,940.88. Following the completion of the purchase, the chief executive officer now owns 13,110,718 shares of the company’s stock, valued at $11,668,539.02. The disclosure for this purchase can be found here. Insiders have purchased 13,212,528 shares of company stock valued at $12,063,972 over the last three months. 31.35% of the stock is owned by insiders.

Nerdy Stock Performance

Nerdy stock opened at $0.98 on Friday. The business’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.85. The firm has a market cap of $174.17 million, a P/E ratio of -3.49 and a beta of 1.68. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.91.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business had revenue of $50.98 million for 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 quarter in the prior year, the company earned ($0.07) EPS. On average, equities research analysts predict that Nerdy, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NRDY shares. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Needham & Company LLC dropped their target price on Nerdy from $4.00 to $2.00 and set a “buy” rating for the company in a report on Friday, August 9th. Northland Securities downgraded Nerdy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Cantor Fitzgerald upgraded Nerdy to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, JMP Securities cut their price objective on Nerdy from $5.00 to $3.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.58.

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.