100,000 Shares in Nerdy, Inc. (NYSE:NRDY) Purchased by Sargent Investment Group LLC

Sargent Investment Group LLC bought a new stake in Nerdy, Inc. (NYSE:NRDY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $153,000. Sargent Investment Group LLC owned about 0.06% of Nerdy at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NRDY. Millennium Management LLC increased its position in shares of Nerdy by 382.0% during the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after purchasing an additional 1,486,910 shares during the last quarter. Algert Global LLC increased its position in shares of Nerdy by 171.6% during the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock valued at $185,000 after acquiring an additional 70,140 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake 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 valued at $434,000 after acquiring an additional 192,635 shares during the period. SG Americas Securities LLC acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $29,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Nerdy during the 3rd quarter worth approximately $867,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Insider Activity

In related news, insider Christopher C. Swenson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $1.49, for a total transaction of $37,250.00. Following the completion of the sale, the insider now owns 1,743,248 shares in the company, valued at $2,597,439.52. The trade was a 1.41 % 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, CEO Charles K. Cohn purchased 8,338,206 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $0.90 per share, with a total value of $7,504,385.40. Following the completion of the acquisition, the chief executive officer now directly owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. This represents a 66.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 13,455,750 shares of company stock worth $15,530,190 and have sold 160,732 shares worth $211,015. Company insiders own 31.35% of the company’s stock.

Nerdy Stock Performance

Shares of NRDY opened at $1.98 on Thursday. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.60. The stock has a market capitalization of $356.25 million, a PE ratio of -5.81 and a beta of 1.98. The stock has a 50-day simple moving average of $1.69 and a 200-day simple moving average of $1.31.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. Nerdy had a negative net margin of 19.31% and a negative return on equity of 47.45%. The company had revenue of $37.53 million during the quarter, compared to the consensus estimate of $36.63 million. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. Analysts predict that Nerdy, Inc. will post -0.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research report on Friday, November 8th. Northland Securities cut their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. cut Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1.00 target price (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.