Insider Selling: Nerdy, Inc. (NYSE:NRDY) CFO Sells 81,381 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CFO Jason H. Pello sold 81,381 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total value of $146,485.80. Following the sale, the chief financial officer now owns 2,143,805 shares of the company’s stock, valued at $3,858,849. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Nerdy Stock Down 3.2 %

NRDY stock opened at $1.66 on Friday. The company has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.33. The company has a market cap of $298.53 million, a price-to-earnings ratio of -4.87 and a beta of 1.98. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $3.28.

Hedge Funds Weigh In On Nerdy

A number of hedge funds have recently modified their holdings of NRDY. Barclays PLC grew its stake in Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after purchasing an additional 79,808 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nerdy by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock valued at $1,690,000 after buying an additional 145,575 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Nerdy in the 3rd quarter valued at approximately $29,000. State Street Corp grew its position in Nerdy by 0.9% in the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after acquiring an additional 11,721 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Nerdy by 2.0% during the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock worth $4,224,000 after buying an additional 79,624 shares during the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Northland Securities reduced their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. JMP Securities restated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective 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 given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.86.

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.