Bayesian Capital Management LP Acquires New Holdings in Nerdy, Inc. (NYSE:NRDY)

Bayesian Capital Management LP bought a new position in shares of Nerdy, Inc. (NYSE:NRDY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,491 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors have also made changes to their positions in NRDY. Sargent Investment Group LLC purchased a new position in shares of Nerdy during the 4th quarter worth approximately $153,000. Barclays PLC boosted its position in shares of Nerdy by 330.4% during the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after buying an additional 79,808 shares during the period. Franklin Resources Inc. grew its stake 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 in the last quarter. Northern Trust Corp raised its holdings in shares of Nerdy by 12.2% in the 4th quarter. Northern Trust Corp now owns 684,590 shares of the company’s stock valued at $1,109,000 after buying an additional 74,233 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Nerdy by 33.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 230,538 shares of the company’s stock worth $373,000 after acquiring an additional 57,846 shares in the last quarter. 39.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 75,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $1.51, for a total value of $113,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,068,805 shares of the company’s stock, valued at approximately $3,123,895.55. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher C. Swenson sold 19,126 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 1,665,902 shares in the company, valued at $2,565,489.08. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,604 shares of company stock worth $443,076. 50.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their target price on Nerdy from $1.00 to $1.50 and gave the company a “neutral” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nerdy currently has an average rating of “Hold” and a consensus price target of $2.31.

Nerdy Stock Performance

NRDY stock opened at $1.54 on Friday. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $2.40. The company’s 50 day moving average price is $1.51 and its 200 day moving average price is $1.52. The firm has a market capitalization of $280.06 million, a price-to-earnings ratio of -4.51 and a beta of 1.92.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. The company had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $46.22 million. Equities analysts forecast that Nerdy, Inc. will post -0.43 EPS for the current fiscal year.

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.