Charles Schwab Investment Management Inc. Reduces Stock Position in Nerdy, Inc. (NYSE:NRDY)

Charles Schwab Investment Management Inc. cut its stake in Nerdy, Inc. (NYSE:NRDY) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 172,692 shares of the company’s stock after selling 27,826 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.10% of Nerdy worth $170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NRDY. Rhumbline Advisers increased its holdings in Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares during the period. nVerses Capital LLC bought a new position in shares of Nerdy in the second quarter worth $34,000. SG Americas Securities LLC bought a new position in shares of Nerdy in the third quarter worth $29,000. AM Investment Strategies LLC purchased a new stake in shares of Nerdy in the third quarter worth $29,000. Finally, ACR Alpine Capital Research LLC boosted its stake in Nerdy by 4.1% during the second quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock valued at $1,656,000 after buying an additional 39,270 shares during the period. 39.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Northland Securities lowered their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research note 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 equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.86.

Nerdy Stock Performance

Shares of Nerdy stock opened at $1.60 on Friday. The stock has a market capitalization of $288.60 million, a price-to-earnings ratio of -4.71 and a beta of 2.00. The company has a fifty day moving average of $1.22 and a 200-day moving average of $1.30. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $3.60.

Insider Buying and Selling at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 70,490 shares of Nerdy stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles K. Cohn acquired 8,338,206 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought 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 directly owns 20,948,924 shares of the company’s stock, valued at approximately $18,854,031.60. The trade was a 66.12 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. Company insiders own 31.35% of the company’s stock.

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.