Nerdy, Inc. (NYSE:NRDY) Shares Sold by Clearline Capital LP

Clearline Capital LP lowered its holdings in Nerdy, Inc. (NYSE:NRDY) by 65.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 632,007 shares of the company’s stock after selling 1,214,730 shares during the period. Clearline Capital LP owned 0.35% of Nerdy worth $621,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NRDY. Citizens Financial Group Inc. RI purchased a new stake in Nerdy in the third quarter valued at approximately $138,000. AM Investment Strategies LLC acquired a new position in shares of Nerdy in the 3rd quarter valued at $29,000. Ritholtz Wealth Management purchased a new stake in shares of Nerdy during the 3rd quarter valued at $867,000. SG Americas Securities LLC acquired a new stake in shares of Nerdy during the 3rd quarter worth $29,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Nerdy by 286.7% in the 2nd 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 during the period. 39.10% of the stock is currently owned by institutional investors and hedge funds.

Nerdy Price Performance

Nerdy stock opened at $1.58 on Monday. The firm’s fifty day moving average price is $1.04 and its 200 day moving average price is $1.32. The company has a market capitalization of $285.00 million, a price-to-earnings ratio of -4.65 and a beta of 1.68. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $3.60.

Insider Transactions at Nerdy

In other news, Director Abigail Blunt purchased 49,045 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the purchase, the director now owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. This trade represents a 4,904.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason H. Pello sold 30,282 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $0.99, for a total value of $29,979.18. Following the sale, the chief financial officer now owns 2,325,918 shares in the company, valued at $2,302,658.82. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 10,438,408 shares of company stock valued at $9,860,774 and have sold 135,772 shares valued at $148,099. Corporate insiders own 31.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Northland Securities cut their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and reduced their price target for the company from $5.00 to $3.00 in a research report on Friday, August 9th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock 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.