Barclays PLC Boosts Stock Position in Nerdy, Inc. (NYSE:NRDY)

Barclays PLC raised its holdings in Nerdy, Inc. (NYSE:NRDY) by 330.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 103,960 shares of the company’s stock after acquiring an additional 79,808 shares during the period. Barclays PLC’s holdings in Nerdy were worth $102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NRDY. Millennium Management LLC grew its holdings in Nerdy by 382.0% in the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after buying an additional 1,486,910 shares during the period. Ritholtz Wealth Management purchased a new stake in Nerdy in the 3rd quarter valued at about $867,000. Greenvale Capital LLP grew its holdings in Nerdy by 6.0% in the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after buying an additional 509,004 shares during the period. Clearline Capital LP grew its holdings in Nerdy by 34.3% in the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after buying an additional 471,603 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Nerdy by 12.9% in 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 in the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Insiders Place Their Bets

In other Nerdy news, CEO Charles K. Cohn acquired 8,338,206 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $0.90 per share, for a total transaction of $7,504,385.40. Following the acquisition, the chief executive officer now directly owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. This trade represents a 66.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason H. Pello sold 70,490 shares of Nerdy stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1.06, for a total value of $74,719.40. Following the sale, the chief financial officer now owns 2,255,428 shares in the company, valued at $2,390,753.68. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 13,455,750 shares of company stock worth $15,530,190 and have sold 160,732 shares worth $211,015. 31.35% of the stock is owned by company insiders.

Nerdy Stock Performance

Nerdy stock opened at $1.67 on Thursday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60. The stock’s 50 day moving average price is $1.42 and its 200 day moving average price is $1.30. The firm has a market capitalization of $301.25 million, a PE ratio of -4.91 and a beta of 1.96.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NRDY. Northland Securities reduced their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Nerdy in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Nerdy has a consensus rating of “Hold” and an average price target of $2.86.

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.