Whetstone Capital Advisors LLC Sells 270,045 Shares of Nerdy, Inc. (NYSE:NRDY)

Whetstone Capital Advisors LLC reduced its stake in Nerdy, Inc. (NYSE:NRDY) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,024 shares of the company’s stock after selling 270,045 shares during the period. Nerdy accounts for 0.3% of Whetstone Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Whetstone Capital Advisors LLC owned about 0.33% of Nerdy worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new position in Nerdy during the 2nd quarter worth $34,000. SG Americas Securities LLC purchased a new position in shares of Nerdy during the third quarter valued at $29,000. AM Investment Strategies LLC bought a new stake in shares of Nerdy in the third quarter valued at about $29,000. Bayesian Capital Management LP purchased a new stake in Nerdy in the first quarter worth about $101,000. Finally, Rhumbline Advisers grew its holdings in Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares in the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NRDY has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $2.00 price target on shares of Nerdy in a report on Friday, November 8th. Canaccord Genuity Group restated a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Raymond James lowered Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Finally, JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.86.

Insider Transactions at Nerdy

In other Nerdy news, Director Abigail Blunt purchased 49,045 shares of Nerdy stock in a transaction on Wednesday, September 11th. The stock was bought 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 $45,540.95. This represents a 4,904.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles K. Cohn acquired 8,338,206 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the acquisition, the chief executive officer now directly owns 20,948,924 shares in the company, valued at approximately $18,854,031.60. The trade was a 66.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 10,138,408 shares of company stock worth $9,428,774 and sold 135,772 shares worth $148,099. Insiders own 31.35% of the company’s stock.

Nerdy Price Performance

NYSE:NRDY opened at $1.45 on Monday. Nerdy, Inc. has a twelve month low of $0.73 and a twelve month high of $3.60. The company’s 50 day moving average is $0.99 and its two-hundred day moving average is $1.34.

Nerdy 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.