Whetstone Capital Advisors LLC Lowers Holdings in Nerdy, Inc. (NYSE:NRDY)

Whetstone Capital Advisors LLC reduced its stake in shares of Nerdy, Inc. (NYSE:NRDY) by 31.3% in the 3rd quarter, Holdings Channel reports. The fund owned 592,024 shares of the company’s stock after selling 270,045 shares during the period. Nerdy makes up 0.3% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 27th largest position. Whetstone Capital Advisors LLC’s holdings in Nerdy were worth $582,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Nerdy by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after purchasing an additional 88,771 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Nerdy in the first quarter valued at $101,000. Bank of New York Mellon Corp increased its holdings in Nerdy by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after buying an additional 58,152 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Nerdy in the second quarter worth about $34,000. Finally, ACR Alpine Capital Research LLC grew its position in shares of Nerdy by 4.1% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock valued at $1,656,000 after acquiring an additional 39,270 shares during the period. 39.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jason H. Pello sold 30,282 shares of the firm’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 transaction of $29,979.18. Following the completion of the sale, the chief financial officer now owns 2,325,918 shares in the company, valued at $2,302,658.82. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Abigail Blunt purchased 49,045 shares of the stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $0.91 per share, with a total value of $44,630.95. Following the completion of the transaction, 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 disclosure for this purchase can be found here. In the last quarter, insiders have bought 10,138,408 shares of company stock valued at $9,428,774 and have sold 135,772 shares valued at $148,099. Corporate insiders own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NRDY. Canaccord Genuity Group cut Nerdy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $5.00 to $3.00 in a report on Friday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Northland Capmk cut shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Finally, Northland Securities dropped 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 report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.86.

Nerdy Price Performance

NYSE NRDY opened at $1.45 on Monday. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The stock’s fifty day moving average is $0.99 and its two-hundred day moving average is $1.34.

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.