Insider Selling: Nerdy, Inc. (NYSE:NRDY) CFO Sells 30,282 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CFO Jason H. Pello sold 30,282 shares of Nerdy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the transaction, the chief financial officer now directly owns 2,325,918 shares in the company, valued at $2,302,658.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Nerdy Price Performance

NRDY opened at $1.05 on Wednesday. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.91. The stock has a market capitalization of $186.95 million, a P/E ratio of -3.75 and a beta of 1.68. The business has a 50 day simple moving average of $1.29 and a 200-day simple moving average of $1.95.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.04. The firm had revenue of $50.98 million during the quarter, compared to analysts’ expectations of $51.14 million. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Research analysts anticipate that Nerdy, Inc. will post -0.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NRDY shares. JMP Securities lowered their price objective on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC lowered their price target on Nerdy from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $3.00 price objective (down from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Canaccord Genuity Group cut Nerdy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Finally, Northland Securities lowered Nerdy from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $5.00 to $3.00 in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Nerdy has an average rating of “Hold” and a consensus price target of $3.58.

Institutional Trading of Nerdy

Several hedge funds and other institutional investors have recently made changes to their positions in NRDY. nVerses Capital LLC acquired a new position in Nerdy during the second quarter worth about $34,000. Bayesian Capital Management LP acquired a new stake in shares of Nerdy in the 1st quarter worth approximately $101,000. Rhumbline Advisers grew its holdings in shares of Nerdy by 11.6% in 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 during the period. Algert Global LLC raised its holdings in Nerdy by 171.6% during the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock worth $185,000 after purchasing an additional 70,140 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in Nerdy by 1,064.9% during the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock worth $307,000 after purchasing an additional 168,206 shares in the last quarter. Institutional investors and hedge funds own 39.10% 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.