Geode Capital Management LLC Buys 145,575 Shares of Nerdy, Inc. (NYSE:NRDY)

Geode Capital Management LLC boosted its position in Nerdy, Inc. (NYSE:NRDY) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,718,647 shares of the company’s stock after acquiring an additional 145,575 shares during the quarter. Geode Capital Management LLC owned 0.97% of Nerdy worth $1,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Nerdy by 11.6% in 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 in the last quarter. State Street Corp lifted its holdings in shares of Nerdy by 0.9% in the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after acquiring an additional 11,721 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nerdy in the 3rd quarter valued at $29,000. AM Investment Strategies LLC bought a new position in shares of Nerdy during the 3rd quarter valued at $29,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nerdy by 28.5% during 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. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Insider Buying and Selling at Nerdy

In related news, CFO Jason H. Pello sold 70,490 shares of Nerdy stock in a transaction 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 completion of the sale, the chief financial officer now owns 2,255,428 shares of the company’s stock, valued at $2,390,753.68. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles K. Cohn acquired 2,000,000 shares of Nerdy stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $1.99 per share, with a total value of $3,980,000.00. Following the transaction, the chief executive officer now owns 30,509,191 shares of the company’s stock, valued at $60,713,290.09. The trade was a 7.02 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 13,455,750 shares of company stock worth $15,530,190 and have sold 160,732 shares worth $211,015. Company insiders own 31.35% of the company’s stock.

Analyst Ratings Changes

NRDY has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th. JMP Securities restated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Northland Securities lowered their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to 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 $1.67 on Thursday. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.60. The stock’s fifty day moving average price is $1.42 and its 200-day moving average price is $1.30. The company has a market cap of $301.25 million, a P/E ratio of -4.91 and a beta of 1.96.

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.