Citizens Financial Group Inc. RI Buys Shares of 140,000 Nerdy, Inc. (NYSE:NRDY)

Citizens Financial Group Inc. RI purchased a new position in Nerdy, Inc. (NYSE:NRDY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 140,000 shares of the company’s stock, valued at approximately $138,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Nerdy in the 1st quarter worth about $101,000. Bank of New York Mellon Corp lifted its position in Nerdy by 28.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after purchasing an additional 58,152 shares during the last quarter. nVerses Capital LLC acquired a new position in Nerdy during the 2nd quarter valued at about $34,000. Finally, ACR Alpine Capital Research LLC grew its position in Nerdy by 4.1% in the 2nd quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock worth $1,656,000 after purchasing an additional 39,270 shares during the last quarter. Institutional investors own 39.10% of the company’s stock.

Nerdy Trading Up 6.1 %

NYSE:NRDY opened at $1.40 on Monday. The company has a 50-day moving average of $0.99 and a 200-day moving average of $1.34. The firm has a market cap of $252.53 million, a price-to-earnings ratio of -4.12 and a beta of 1.68. Nerdy, Inc. has a twelve month low of $0.73 and a twelve month high of $3.60.

Analysts Set New Price Targets

NRDY has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and cut their price objective for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.86.

Insider Activity at Nerdy

In other news, CEO Charles K. Cohn acquired 208,726 shares of Nerdy stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $0.87 per share, with a total value of $181,591.62. Following the completion of the purchase, the chief executive officer now owns 21,157,650 shares of the company’s stock, valued at $18,407,155.50. This represents a 1.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher C. Swenson sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $1.24, for a total transaction of $43,400.00. Following the completion of the transaction, the insider now owns 1,768,248 shares of the company’s stock, valued at approximately $2,192,627.52. The trade was a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 10,138,408 shares of company stock valued at $9,428,774 and sold 135,772 shares valued at $148,099. Company insiders own 31.35% of the company’s stock.

About Nerdy

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.