AM Investment Strategies LLC Makes New $29,000 Investment in Nerdy, Inc. (NYSE:NRDY)

AM Investment Strategies LLC purchased a new stake in shares of Nerdy, Inc. (NYSE:NRDY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management bought a new stake in Nerdy in the third quarter worth about $867,000. SG Americas Securities LLC acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $29,000. Cubist Systematic Strategies LLC lifted its stake in Nerdy by 286.7% during the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after purchasing an additional 192,635 shares during the last quarter. Greenvale Capital LLP boosted its holdings in Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after buying an additional 509,004 shares in the last quarter. Finally, Algert Global LLC grew its position in Nerdy by 171.6% in the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock worth $185,000 after buying an additional 70,140 shares during the last quarter. Institutional investors own 39.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JMP Securities cut their price objective on Nerdy from $5.00 to $3.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Barclays decreased their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Northland Securities downgraded Nerdy from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Cantor Fitzgerald upgraded shares of Nerdy to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.58.

Nerdy Stock Down 7.2 %

Shares of NYSE:NRDY traded down $0.07 during trading on Friday, reaching $0.84. 1,568,278 shares of the company traded hands, compared to its average volume of 1,593,778. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $3.60. The firm has a fifty day simple moving average of $0.99 and a 200 day simple moving average of $1.53. The firm has a market cap of $149.38 million, a P/E ratio of -2.54 and a beta of 1.67.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. During the same period last year, the business earned ($0.07) EPS. As a group, research analysts anticipate that Nerdy, Inc. will post -0.48 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jason H. Pello sold 30,282 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.99, for a total value of $29,979.18. Following the transaction, the chief financial officer now directly owns 2,325,918 shares of the company’s stock, valued at approximately $2,302,658.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Jason H. Pello sold 30,282 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 2,325,918 shares in the company, valued at approximately $2,302,658.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction on Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the transaction, the chief financial officer now owns 2,356,200 shares in the company, valued at $2,002,770. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 13,212,528 shares of company stock valued at $12,063,972 over the last ninety days. Corporate insiders own 31.35% of the company’s stock.

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.