Insider Selling: Nerdy Inc. (NYSE:NRDY) CFO Sells 29,530 Shares of Stock

Nerdy Inc. (NYSE:NRDY - Get Free Report) CFO Jason H. Pello sold 29,530 shares of Nerdy stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $1.61, for a total value of $47,543.30. Following the completion of the transaction, the chief financial officer now owns 1,930,604 shares in the company, valued at $3,108,272.44. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Nerdy Stock Performance

Shares of NYSE:NRDY traded up $0.02 on Wednesday, hitting $1.62. 335,360 shares of the company were exchanged, compared to its average volume of 1,606,932. The company's 50 day moving average price is $1.62 and its two-hundred day moving average price is $1.64. The firm has a market capitalization of $294.66 million, a price-to-earnings ratio of -4.04 and a beta of 1.92. Nerdy Inc. has a one year low of $0.73 and a one year high of $2.18.

Nerdy (NYSE:NRDY - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.05. Nerdy had a negative return on equity of 69.06% and a negative net margin of 24.79%. The business had revenue of $47.60 million for the quarter, compared to the consensus estimate of $46.22 million. Research analysts predict that Nerdy Inc. will post -0.43 earnings per share for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group increased their target price on Nerdy from $1.00 to $1.50 and gave the company a "neutral" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.31.

Institutional Trading of Nerdy

Several institutional investors have recently modified their holdings of NRDY. Voya Investment Management LLC acquired a new position in shares of Nerdy in the first quarter valued at $30,000. Strs Ohio bought a new stake in shares of Nerdy in the 1st quarter worth about $56,000. AQR Capital Management LLC grew its stake in Nerdy by 67.9% during the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company's stock worth $53,000 after buying an additional 15,234 shares during the last quarter. Nuveen LLC bought a new stake in Nerdy during the 1st quarter worth approximately $508,000. Finally, XTX Topco Ltd bought a new stake in shares of Nerdy during the first quarter worth $188,000. Institutional investors and hedge funds own 39.10% of the company's stock.

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.

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