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

Charles Schwab Investment Management Inc. raised its position in Nerdy, Inc. (NYSE:NRDY) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,538 shares of the company’s stock after buying an additional 57,846 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.13% of Nerdy worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. State Street Corp increased 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 valued at $1,232,000 after acquiring an additional 11,721 shares during the period. Barclays PLC grew its position in Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after purchasing an additional 79,808 shares during the last quarter. Geode Capital Management LLC increased its stake in Nerdy by 9.3% in the third quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock valued at $1,690,000 after purchasing an additional 145,575 shares during the period. Franklin Resources Inc. raised its holdings in shares of Nerdy by 2.0% in the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after buying an additional 79,624 shares during the last quarter. Finally, Sargent Investment Group LLC acquired a new stake in shares of Nerdy during the fourth quarter worth about $153,000. 39.10% of the stock is owned by institutional investors and hedge funds.

Nerdy Stock Performance

Shares of NYSE NRDY opened at $1.43 on Wednesday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $2.95. The firm has a market capitalization of $259.99 million, a P/E ratio of -4.19 and a beta of 2.00. The company’s fifty day moving average is $1.69 and its two-hundred day moving average is $1.43.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price objective on Nerdy from $1.00 to $1.50 and gave the company a “neutral” rating in a research note on Monday, March 3rd. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.31.

Insider Activity at Nerdy

In other news, insider Christopher C. Swenson sold 19,126 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $1.54, for a total value of $29,454.04. Following the sale, the insider now directly owns 1,665,902 shares in the company, valued at $2,565,489.08. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason H. Pello sold 81,381 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total transaction of $146,485.80. Following the transaction, the chief financial officer now directly owns 2,143,805 shares of the company’s stock, valued at approximately $3,858,849. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,604 shares of company stock worth $443,076 over the last 90 days. Company insiders own 50.94% 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.