Nerdy, Inc. (NYSE:NRDY) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its position in Nerdy, Inc. (NYSE:NRDY) by 286.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 259,822 shares of the company’s stock after buying an additional 192,635 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.15% of Nerdy worth $434,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Nerdy in the second quarter valued at approximately $34,000. Bayesian Capital Management LP purchased a new stake in shares of Nerdy during the 1st quarter worth $101,000. Rhumbline Advisers grew its stake in shares of Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after purchasing an additional 8,834 shares during the period. XTX Topco Ltd increased its holdings in shares of Nerdy by 1,064.9% in the 2nd 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 in the last quarter. Finally, S Squared Technology LLC lifted its stake in shares of Nerdy by 582.6% in the fourth quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock valued at $702,000 after purchasing an additional 174,786 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Analyst Ratings Changes

NRDY has been the subject of a number of research analyst reports. JMP Securities dropped their target price on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. cut Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Northland Capmk downgraded Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Northland Securities cut shares of Nerdy from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Finally, Barclays cut their target price on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.58.

Insider Buying and Selling

In other news, CEO Charles K. Cohn acquired 10,993,192 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $9,783,940.88. Following the acquisition, the chief executive officer now directly owns 13,110,718 shares in the company, valued at approximately $11,668,539.02. This represents a 500.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Jason H. Pello sold 50,903 shares of the stock in a transaction 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 sale, the chief financial officer now owns 2,356,200 shares of the company’s stock, valued at $2,002,770. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles K. Cohn bought 10,993,192 shares of Nerdy stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $0.89 per share, for a total transaction of $9,783,940.88. Following the acquisition, the chief executive officer now directly owns 13,110,718 shares in the company, valued at approximately $11,668,539.02. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,212,528 shares of company stock valued at $12,063,972. Insiders own 31.35% of the company’s stock.

Nerdy Stock Up 4.0 %

Shares of Nerdy stock opened at $1.05 on Friday. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.91. The business’s fifty day moving average is $1.12 and its two-hundred day moving average is $1.81. The firm has a market cap of $184.48 million, a PE ratio of -3.75 and a beta of 1.67.

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 analysts’ consensus estimates of ($0.12) by $0.04. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. The firm had revenue of $50.98 million for the quarter, compared to analyst estimates of $51.14 million. During the same period last year, the company earned ($0.07) EPS. Equities research analysts anticipate that Nerdy, Inc. will post -0.48 EPS 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.