BlackRock Fund Advisors recently announced the acquisition of new stake in Nerdy Inc (NYSE:NRDY). The institutional investor has increased its shareholding in the Technology company by 1.48% to 3.71 million shares with purchase of 54190.0 shares. This fresh investment now brings its stake to 3.56% valued currently at $12.74 million. In addition, Kent Lake Capital LLC raised its holdings by 0.74 million to 2.78 million shares. And The Vanguard Group, Inc. has lifted its position by 1.83% or 50111.0 shares – to 2.78 million shares.
With over 0.47 million Nerdy Inc (NRDY) shares trading Friday and a closing price of $3.07 on the day, the dollar volume was approximately $1.46 million. The shares have shown a negative half year performance of -30.07% and its price on 01/12/24 lost nearly -1.29%. Currently, there are 95.30M common shares owned by the public and among those 66.47M shares have been available to trade.
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Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 3,034,002 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 3,226,519 shares.
The top 3 mutual fund holders in Nerdy Inc are Franklin Small Cap Growth Fund, iShares Russell 2000 ETF, and Vanguard Total Stock Market ETF. Franklin Small Cap Growth Fund owns 3.83 million shares of the company’s stock, all valued at over $13.12 million. iShares Russell 2000 ETF sold 4500.0 shares to see its total holdings shrink to 1.7 million shares valued at over $5.84 million and representing 1.63% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 1.49% of the shares outstanding.
Shares of Nerdy Inc (NYSE: NRDY) opened at $3.12, up $0.01 from a prior closing price of $3.11. However, the script later moved the day high at 3.1600, down -1.29%. The company’s stock has a 5-day price change of -3.15% and -12.03% over the past three months. NRDY shares are trading -10.50% year to date (YTD), with the 12-month market performance up to 20.87% higher. It has a 12-month low price of $2.33 and touched a high of $5.37 over the same period. NRDY has an average intraday trading volume of 910.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.04%, 4.23%, and -15.71% respectively.
Institutional ownership of Nerdy Inc (NYSE: NRDY) shares accounts for 49.76% of the company’s 95.30M shares outstanding. Mutual fund holders own 34.17%, while other institutional holders and individual stakeholders account for 41.61% and 15.60% respectively.
It has a market capitalization of $320.57M and a beta (3y monthly) value of 2.00. The earnings-per-share (ttm) stands at -$0.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.01% over the week and 4.89% over the month.
Analysts forecast that Nerdy Inc (NRDY) will achieve an EPS of -$0.12 for the current quarter, -$0.08 for the next quarter and -$0.4 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 83.54%, and 53.09% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Nerdy Inc (NRDY) as a “Strong Buy” at a consensus score of 1.56. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NRDY, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on October 09, 2023, with the firm’s price target at $5.
