Franklin Resources Inc. Purchases 79,624 Shares of Nerdy, Inc. (NYSE:NRDY)

Franklin Resources Inc. raised its position in shares of Nerdy, Inc. (NYSE:NRDY) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,100,644 shares of the company’s stock after acquiring an additional 79,624 shares during the period. Franklin Resources Inc. owned approximately 2.27% of Nerdy worth $4,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NRDY. Greenvale Capital LLP boosted its stake in Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after purchasing an additional 509,004 shares during the period. Marshall Wace LLP increased its position in Nerdy by 12.9% in the 2nd 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 during the period. Millennium Management LLC lifted its holdings in shares of Nerdy by 382.0% during the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after buying an additional 1,486,910 shares during the last quarter. Clearline Capital LP boosted its position in shares of Nerdy by 34.3% in the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after acquiring an additional 471,603 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Nerdy by 9.3% in the third quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock worth $1,690,000 after acquiring an additional 145,575 shares during the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NRDY has been the subject of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research note on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 target price (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Northland Securities cut their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.86.

Nerdy Price Performance

Shares of NYSE:NRDY opened at $1.69 on Tuesday. The business’s fifty day moving average price is $1.23 and its two-hundred day moving average price is $1.30. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The stock has a market capitalization of $304.84 million, a price-to-earnings ratio of -4.97 and a beta of 2.00.

Insider Transactions at Nerdy

In related news, CFO Jason H. Pello sold 30,242 shares of Nerdy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $1.84, for a total value of $55,645.28. Following the completion of the transaction, the chief financial officer now directly owns 2,225,186 shares of the company’s stock, valued at $4,094,342.24. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher C. Swenson sold 25,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $1.49, for a total transaction of $37,250.00. Following the sale, the insider now directly owns 1,743,248 shares in the company, valued at approximately $2,597,439.52. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 13,455,750 shares of company stock valued at $15,530,190 and have sold 160,732 shares valued at $211,015. 31.35% of the stock is owned by insiders.

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.