Citizens Financial Group Inc. RI Takes Position in Nerdy, Inc. (NYSE:NRDY)

Citizens Financial Group Inc. RI acquired a new position in shares of Nerdy, Inc. (NYSE:NRDY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 140,000 shares of the company’s stock, valued at approximately $138,000. Citizens Financial Group Inc. RI owned approximately 0.08% of Nerdy at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Nerdy by 382.0% in the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after purchasing an additional 1,486,910 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Nerdy in the 3rd quarter valued at approximately $867,000. Greenvale Capital LLP lifted its stake in Nerdy by 6.0% in the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after buying an additional 509,004 shares in the last quarter. Clearline Capital LP increased its position in Nerdy by 34.3% during the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after buying an additional 471,603 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after acquiring an additional 224,049 shares during the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NRDY has been the subject of a number of recent research reports. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $3.00 target price (down from $5.00) on shares of Nerdy in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Finally, Northland Securities lowered their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.86.

Nerdy Price Performance

Shares of NYSE:NRDY opened at $1.40 on Monday. The business has a 50-day moving average of $0.99 and a two-hundred day moving average of $1.34. The firm has a market capitalization of $252.53 million, a PE ratio of -4.12 and a beta of 1.68. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60.

Insider Transactions at Nerdy

In related news, Director Abigail Blunt purchased 49,045 shares of Nerdy stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average cost of $0.91 per share, with a total value of $44,630.95. Following the transaction, the director now owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. The trade was a 4,904.50 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles K. Cohn acquired 8,338,206 shares of the stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $0.90 per share, with a total value of $7,504,385.40. Following the transaction, 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. Over the last 90 days, insiders acquired 10,138,408 shares of company stock valued at $9,428,774 and sold 135,772 shares valued at $148,099. Company 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.