Nerdy (NYSE:NRDY) CFO Jason Pello Sells 75,000 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CFO Jason Pello sold 75,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $1.39, for a total transaction of $104,250.00. Following the completion of the transaction, the chief financial officer directly owned 1,728,055 shares of the company’s stock, valued at $2,401,996.45. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nerdy Trading Up 1.1%

NYSE:NRDY opened at $1.36 on Friday. Nerdy Inc. has a twelve month low of $0.77 and a twelve month high of $2.18. The company has a market cap of $253.84 million, a PE ratio of -3.87 and a beta of 1.78. The company’s 50 day moving average is $1.12 and its two-hundred day moving average is $1.36.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.06. The business had revenue of $37.02 million during the quarter, compared to the consensus estimate of $38.77 million. Nerdy had a negative net margin of 22.95% and a negative return on equity of 81.74%. As a group, analysts expect that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its holdings in Nerdy by 170.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after acquiring an additional 150,000 shares during the period. Bank of America Corp DE increased its holdings in shares of Nerdy by 236.2% during the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock valued at $201,000 after purchasing an additional 86,791 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Nerdy by 27.0% in the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after purchasing an additional 17,768 shares during the period. Marshall Wace LLP acquired a new position in shares of Nerdy in the second quarter worth about $221,000. Finally, Franklin Resources Inc. boosted its position in Nerdy by 0.4% during the second quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock worth $5,950,000 after purchasing an additional 15,674 shares in the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded 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 report on Wednesday, October 8th. Finally, Cantor Fitzgerald decreased their price objective on shares of Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $1.25.

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.