PI Global Investments
Hedge Funds

Light Street Capital Managemen Sells 7,450 Shares of Nerdy, Inc. (NYSE:NRDY) Stock


Nerdy, Inc. (NYSE:NRDYGet Rating) major shareholder Light Street Capital Managemen sold 7,450 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $2.06, for a total transaction of $15,347.00. Following the completion of the transaction, the insider now owns 9,026,493 shares in the company, valued at $18,594,575.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Light Street Capital Managemen also recently made the following trade(s):

  • On Thursday, June 23rd, Light Street Capital Managemen sold 400 shares of Nerdy stock. The stock was sold at an average price of $2.81, for a total transaction of $1,124.00.
  • On Tuesday, June 21st, Light Street Capital Managemen sold 63,000 shares of Nerdy stock. The stock was sold at an average price of $3.11, for a total transaction of $195,930.00.

Nerdy Stock Performance

NRDY opened at $2.24 on Friday. The stock has a market capitalization of $356.23 million, a price-to-earnings ratio of -8.62 and a beta of 0.87. The company has a fifty day moving average of $2.62 and a 200 day moving average of $3.75. Nerdy, Inc. has a fifty-two week low of $1.59 and a fifty-two week high of $13.49.

Nerdy (NYSE:NRDYGet Rating) last posted its earnings results on Monday, May 16th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. The company had revenue of $46.93 million during the quarter, compared to analysts’ expectations of $47.06 million. Nerdy had a negative net margin of 13.70% and a negative return on equity of 55.71%. On average, equities research analysts forecast that Nerdy, Inc. will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On Nerdy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in shares of Nerdy by 108,950.0% in the 1st quarter. Bank of America Corp DE now owns 13,086 shares of the company’s stock worth $67,000 after buying an additional 13,074 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Nerdy by 3,036.0% in the 1st quarter. Royal Bank of Canada now owns 5,488 shares of the company’s stock worth $28,000 after buying an additional 5,313 shares in the last quarter. G2 Investment Partners Management LLC grew its stake in shares of Nerdy by 5.0% in the 1st quarter. G2 Investment Partners Management LLC now owns 427,500 shares of the company’s stock worth $2,176,000 after buying an additional 20,535 shares in the last quarter. Woodline Partners LP grew its stake in shares of Nerdy by 49.5% in the 1st quarter. Woodline Partners LP now owns 2,297,088 shares of the company’s stock worth $11,692,000 after buying an additional 760,917 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Nerdy by 424.7% in the 1st quarter. State Street Corp now owns 214,601 shares of the company’s stock worth $1,092,000 after buying an additional 173,701 shares in the last quarter. 56.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Nerdy from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. The Goldman Sachs Group cut shares of Nerdy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $3.00 in a research note on Tuesday, May 17th. Cantor Fitzgerald assumed coverage on shares of Nerdy in a research note on Tuesday, March 29th. They issued an “overweight” rating and a $7.00 price objective for the company. Canaccord Genuity Group reduced their price objective on shares of Nerdy from $8.00 to $7.00 in a research note on Friday, May 27th. Finally, Northland Securities reduced their price objective on shares of Nerdy from $10.00 to $5.00 in a research note on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

Nerdy Company Profile

(Get Rating)

Nerdy, Inc operates platform for live online learning. The company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.

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Insider Buying and Selling by Quarter for Nerdy (NYSE:NRDY)



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