882,256 Shares in Nerdy, Inc. (NYSE:NRDY) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in Nerdy, Inc. (NYSE:NRDY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 882,256 shares of the company’s stock, valued at approximately $867,000. Ritholtz Wealth Management owned approximately 0.50% of Nerdy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Nerdy by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock worth $9,025,000 after buying an additional 88,771 shares in the last quarter. Greenvale Capital LLP raised its stake in Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after acquiring an additional 509,004 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of 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 acquiring an additional 192,635 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Nerdy in the 2nd quarter valued at approximately $34,000. Finally, Marshall Wace LLP grew its holdings 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 purchasing an additional 224,049 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Nerdy Price Performance

NYSE NRDY opened at $1.03 on Tuesday. The firm has a market cap of $180.09 million, a price-to-earnings ratio of -3.66 and a beta of 1.67. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.69. The company has a fifty day moving average price of $1.02 and a 200-day moving average price of $1.69.

Nerdy (NYSE:NRDY) last posted 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 for the quarter, compared to the consensus estimate of $51.14 million. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, research analysts anticipate that Nerdy, Inc. will post -0.48 EPS for the current fiscal year.

Insider Activity at Nerdy

In related news, Director Abigail Blunt bought 49,045 shares of Nerdy stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $0.91 per share, with a total value of $44,630.95. Following the acquisition, the director now directly owns 50,045 shares of the company’s stock, valued at $45,540.95. This represents a 4,900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Nerdy news, Director Abigail Blunt bought 49,045 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the purchase, the director now directly owns 50,045 shares of the company’s stock, valued at $45,540.95. The trade was a 4,900.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason H. Pello sold 30,282 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the sale, the chief financial officer now directly owns 2,325,918 shares in the company, valued at $2,302,658.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 13,212,528 shares of company stock worth $12,063,972. 31.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on NRDY. Raymond James lowered shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. downgraded Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Northland Securities cut Nerdy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $5.00 to $3.00 in a research note on Friday, August 9th. JMP Securities decreased their price objective on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC lowered 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. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.