Squarepoint Ops LLC Reduces Position in Nerdy, Inc. (NYSE:NRDY)

Squarepoint Ops LLC trimmed its position in Nerdy, Inc. (NYSE:NRDY) by 54.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,945 shares of the company’s stock after selling 264,008 shares during the period. Squarepoint Ops LLC owned 0.13% of Nerdy worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenvale Capital LLP boosted its stake in shares of Nerdy by 2.9% in the fourth quarter. Greenvale Capital LLP now owns 8,490,996 shares of the company’s stock worth $29,124,000 after buying an additional 240,996 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Nerdy by 12.9% during the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after purchasing an additional 224,049 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Nerdy by 286.7% during the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock worth $434,000 after buying an additional 192,635 shares in the last quarter. XTX Topco Ltd grew its position in Nerdy by 1,064.9% during the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock valued at $307,000 after buying an additional 168,206 shares during the period. Finally, ACR Alpine Capital Research LLC grew its position in Nerdy by 15.7% during the first quarter. ACR Alpine Capital Research LLC now owns 952,062 shares of the company’s stock valued at $2,770,000 after buying an additional 129,090 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Trading Down 1.0 %

NRDY stock opened at $0.98 on Friday. The firm has a 50-day moving average of $1.05 and a two-hundred day moving average of $1.73. 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 $172.36 million, a price-to-earnings ratio of -3.50 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

NRDY has been the topic of several recent analyst reports. Needham & Company LLC lowered their target price on shares of Nerdy from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JMP Securities cut their price objective on Nerdy from $5.00 to $3.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Northland Securities lowered shares of Nerdy from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from an “overweight” rating to a “neutral” 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nerdy presently has an average rating of “Hold” and an average price target of $3.58.

Insider Activity

In related news, CFO Jason H. Pello sold 50,903 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $0.85, for a total value of $43,267.55. Following the completion of the transaction, the chief financial officer now directly owns 2,356,200 shares in the company, valued at approximately $2,002,770. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Charles K. Cohn bought 10,993,192 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $0.89 per share, for a total transaction of $9,783,940.88. Following the acquisition, the chief executive officer now owns 13,110,718 shares of the company’s stock, valued at approximately $11,668,539.02. This trade represents a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jason H. Pello sold 50,903 shares of the business’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 value 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 13,212,528 shares of company stock valued at $12,063,972. 31.35% of the stock is currently owned by company insiders.

Nerdy 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.