ACR Alpine Capital Research LLC Acquires 114,654 Shares of Nerdy, Inc. (NYSE:NRDY)

ACR Alpine Capital Research LLC lifted its holdings in Nerdy, Inc. (NYSE:NRDY) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 822,972 shares of the company’s stock after acquiring an additional 114,654 shares during the period. Nerdy accounts for approximately 0.1% of ACR Alpine Capital Research LLC’s holdings, making the stock its 23rd biggest holding. ACR Alpine Capital Research LLC owned 0.48% of Nerdy worth $2,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NRDY. Bank of New York Mellon Corp boosted its position in shares of 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 buying an additional 40,132 shares during the period. Cutter & CO Brokerage Inc. bought a new stake in shares of Nerdy during the third quarter worth $41,000. L2 Asset Management LLC purchased a new stake in shares of Nerdy during the third quarter valued at $168,000. Aigen Investment Management LP bought a new position in shares of Nerdy in the third quarter worth about $59,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Nerdy by 24.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the company’s stock worth $2,220,000 after buying an additional 116,700 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NRDY. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Nerdy in a research note on Wednesday, February 28th. JPMorgan Chase & Co. started coverage on Nerdy in a research note on Monday, March 11th. They set an “overweight” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.71.

Nerdy Trading Down 1.5 %

Shares of NYSE:NRDY traded down $0.04 during trading on Tuesday, hitting $2.68. The stock had a trading volume of 604,060 shares, compared to its average volume of 1,072,316. The stock has a 50-day simple moving average of $2.81 and a two-hundred day simple moving average of $2.97. Nerdy, Inc. has a 12-month low of $2.31 and a 12-month high of $5.37.

Nerdy (NYSE:NRDY) last posted its earnings results on Tuesday, February 27th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. The firm had revenue of $55.10 million for the quarter, compared to analyst estimates of $54.77 million. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. Nerdy’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. Equities analysts predict that Nerdy, Inc. will post -0.33 EPS for the current year.

Insider Activity

In other news, CEO Charles K. Cohn purchased 75,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average cost of $2.79 per share, with a total value of $209,250.00. Following the completion of the purchase, the chief executive officer now directly owns 185,704 shares of the company’s stock, valued at approximately $518,114.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Nerdy news, insider Christopher C. Swenson sold 30,000 shares of Nerdy stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $2.53, for a total value of $75,900.00. Following the completion of the transaction, the insider now directly owns 1,203,248 shares of the company’s stock, valued at approximately $3,044,217.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn acquired 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average price of $2.79 per share, with a total value of $209,250.00. Following the acquisition, the chief executive officer now directly owns 185,704 shares of the company’s stock, valued at approximately $518,114.16. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 217,991 shares of company stock worth $629,314 and sold 126,091 shares worth $370,371. Company insiders own 31.35% of the company’s stock.

Nerdy Company 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.