Tower Research Capital LLC TRC Grows Stake in Nerdy, Inc. (NYSE:NRDY)

Tower Research Capital LLC TRC grew its position in Nerdy, Inc. (NYSE:NRDY) by 1,765.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,051 shares of the company’s stock after purchasing an additional 14,244 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Nerdy were worth $52,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kent Lake Capital LLC lifted its stake in shares of Nerdy by 9.4% during the third quarter. Kent Lake Capital LLC now owns 2,784,572 shares of the company’s stock worth $10,303,000 after buying an additional 238,793 shares during the period. ACR Alpine Capital Research LLC lifted its position in Nerdy by 16.2% during the fourth quarter. ACR Alpine Capital Research LLC now owns 822,972 shares of the company’s stock valued at $2,823,000 after purchasing an additional 114,654 shares during the period. GSA Capital Partners LLP acquired a new position in Nerdy during the third quarter valued at $2,387,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Nerdy by 24.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the company’s stock valued at $2,220,000 after purchasing an additional 116,700 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Nerdy by 23.6% during the third quarter. Bank of New York Mellon Corp now owns 210,466 shares of the company’s stock valued at $779,000 after purchasing an additional 40,132 shares during the period. 39.10% of the stock is owned by hedge funds and other institutional investors.

Nerdy Stock Performance

Shares of NRDY stock traded down $0.12 on Tuesday, reaching $2.59. 560,591 shares of the company were exchanged, compared to its average volume of 1,093,980. The company has a market cap of $449.04 million, a price-to-earnings ratio of -6.15 and a beta of 1.90. The business has a 50-day moving average price of $2.83 and a 200 day moving average price of $2.98. Nerdy, Inc. has a 1 year low of $2.31 and a 1 year high of $5.37.

Nerdy (NYSE:NRDY) last released its earnings results on Tuesday, February 27th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The business had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $54.77 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The company’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, equities analysts anticipate that Nerdy, Inc. will post -0.33 earnings per share for the current year.

Insider Activity at Nerdy

In related news, insider Christopher C. Swenson sold 25,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $2.96, for a total transaction of $74,000.00. Following the completion of the sale, the insider now owns 1,233,248 shares of the company’s stock, valued at approximately $3,650,414.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Jason H. Pello sold 41,896 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $3.13, for a total value of $131,134.48. Following the completion of the sale, the chief financial officer now owns 1,505,244 shares of the company’s stock, valued at approximately $4,711,413.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher C. Swenson sold 25,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $2.96, for a total transaction of $74,000.00. Following the completion of the sale, the insider now directly owns 1,233,248 shares of the company’s stock, valued at approximately $3,650,414.08. The disclosure for this sale can be found here. In the last quarter, insiders acquired 217,991 shares of company stock valued at $629,314 and sold 126,091 shares valued at $370,371. 31.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NRDY shares. JPMorgan Chase & Co. started coverage on shares of Nerdy in a research report on Monday, March 11th. They set an “overweight” rating and a $5.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Nerdy in a research report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.71.

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.