Ritholtz Wealth Management Cuts Stock Position in Nerdy, Inc. (NYSE:NRDY)

Ritholtz Wealth Management trimmed its position in shares of Nerdy, Inc. (NYSE:NRDY) by 61.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,256 shares of the company’s stock after selling 540,000 shares during the quarter. Ritholtz Wealth Management owned 0.19% of Nerdy worth $554,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Nerdy by 28.5% in the second 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 in the last quarter. Rhumbline Advisers boosted its position in Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after buying an additional 8,834 shares during the period. XTX Topco Ltd grew its stake in shares of Nerdy by 1,064.9% in the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock worth $307,000 after acquiring an additional 168,206 shares in the last quarter. Marshall Wace LLP increased its position in shares of Nerdy by 12.9% during the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after acquiring an additional 224,049 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Nerdy by 286.7% in the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after acquiring an additional 192,635 shares in the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

Nerdy Price Performance

NYSE NRDY opened at $1.67 on Tuesday. The firm’s fifty day moving average price is $1.54 and its 200 day moving average price is $1.30. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60. The company has a market capitalization of $300.33 million, a price-to-earnings ratio of -4.90 and a beta of 1.96.

Insider Buying and Selling at Nerdy

In other news, insider Christopher C. Swenson sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total transaction of $43,400.00. Following the transaction, the insider now directly owns 1,768,248 shares in the company, valued at approximately $2,192,627.52. This trade represents a 1.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles K. Cohn purchased 8,338,206 shares of Nerdy stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $0.90 per share, with a total value of $7,504,385.40. Following the transaction, the chief executive officer now owns 20,948,924 shares in the company, valued at $18,854,031.60. The trade was a 66.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. 31.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.