Greenvale Capital LLP Raises Holdings in Nerdy, Inc. (NYSE:NRDY)

Greenvale Capital LLP grew its position in shares of Nerdy, Inc. (NYSE:NRDY) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,000,000 shares of the company’s stock after purchasing an additional 509,004 shares during the quarter. Nerdy makes up about 0.9% of Greenvale Capital LLP’s holdings, making the stock its 15th largest position. Greenvale Capital LLP owned 5.12% of Nerdy worth $15,030,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of Nerdy during the second quarter worth about $34,000. Bayesian Capital Management LP purchased a new position in shares of Nerdy during the first quarter worth about $101,000. Rhumbline Advisers grew its holdings in shares of Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after buying an additional 8,834 shares during the last quarter. Algert Global LLC grew its holdings in shares of Nerdy by 171.6% during the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock worth $185,000 after buying an additional 70,140 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Nerdy by 1,064.9% during the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock worth $307,000 after buying an additional 168,206 shares during the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Trading Up 0.7 %

NRDY stock opened at $0.99 on Tuesday. The firm has a 50 day moving average of $1.17 and a 200-day moving average of $1.83. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $3.91. The company has a market cap of $173.06 million, a price-to-earnings ratio of -3.52 and a beta of 1.68.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. The company had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. During the same period last year, the firm earned ($0.07) EPS. Sell-side analysts forecast that Nerdy, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the sale, the chief financial officer now directly owns 2,356,200 shares in the company, valued at approximately $2,002,770. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Jason H. Pello sold 50,903 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the transaction, the chief financial officer now directly owns 2,356,200 shares of the company’s stock, valued at approximately $2,002,770. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $0.99, for a total transaction of $29,979.18. Following the transaction, the chief financial officer now directly owns 2,325,918 shares of the company’s stock, valued at $2,302,658.82. The disclosure for this sale can be found here. In the last three months, insiders purchased 13,212,528 shares of company stock worth $12,063,972. Company insiders own 31.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NRDY. Northland Securities lowered Nerdy from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $5.00 to $3.00 in a report on Friday, August 9th. JPMorgan Chase & Co. lowered Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Barclays lowered their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Finally, Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Eight research 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 company’s stock. Based on data from MarketBeat.com, Nerdy presently has a consensus rating of “Hold” and an average price target 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.