Insider Selling: Nerdy (NYSE:NRDY) CFO Sells $104,250.00 in Stock

Nerdy Inc. (NYSE:NRDY) CFO Jason Pello sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $1.39, for a total value of $104,250.00. Following the sale, the chief financial officer owned 1,728,055 shares in the company, valued at approximately $2,401,996.45. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Nerdy Price Performance

Shares of NRDY stock opened at $1.36 on Monday. The stock has a market cap of $253.83 million, a P/E ratio of -3.87 and a beta of 1.78. Nerdy Inc. has a one year low of $0.77 and a one year high of $2.18. The stock has a fifty day moving average price of $1.12 and a 200 day moving average price of $1.36.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.06. Nerdy had a negative net margin of 22.95% and a negative return on equity of 81.74%. The firm had revenue of $37.02 million for the quarter, compared to analyst estimates of $38.77 million. Equities research analysts anticipate that Nerdy Inc. will post -0.43 EPS for the current year.

Analyst Ratings Changes

NRDY has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald cut their price target on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $1.25.

Institutional Investors Weigh In On Nerdy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC bought a new position in shares of Nerdy in the first quarter valued at about $508,000. Moneta Group Investment Advisors LLC lifted its position in Nerdy by 170.7% during the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after acquiring an additional 150,000 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Nerdy during the second quarter worth approximately $221,000. XTX Topco Ltd bought a new position in shares of Nerdy during the first quarter worth approximately $188,000. Finally, Bank of America Corp DE lifted its holdings in Nerdy by 236.2% during the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after purchasing an additional 86,791 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

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.