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 company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $0.92, for a total transaction of $69,000.00. Following the completion of the transaction, the chief financial officer owned 2,571,235 shares of the company’s stock, valued at $2,365,536.20. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Nerdy Stock Up 0.5%

Nerdy stock traded up $0.00 during midday trading on Friday, hitting $0.92. 149,669 shares of the stock were exchanged, compared to its average volume of 829,340. Nerdy Inc. has a 1 year low of $0.77 and a 1 year high of $1.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a market cap of $173.09 million, a P/E ratio of -2.72 and a beta of 1.80. The company has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $1.12.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Nerdy had a negative net margin of 22.30% and a negative return on equity of 95.27%. The firm had revenue of $49.11 million during the quarter, compared to analysts’ expectations of $45.75 million. On average, sell-side analysts predict that Nerdy Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Nerdy by 80.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock valued at $68,000 after purchasing an additional 29,007 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Nerdy by 236.2% in the second 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 during the period. Jane Street Group LLC raised its stake in Nerdy by 27.0% during the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after acquiring an additional 17,768 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Nerdy during the second quarter valued at about $221,000. Finally, Strs Ohio acquired a new stake in shares of Nerdy in the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Wall Street Analyst Weigh In

NRDY has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Nerdy from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nerdy has a consensus rating of “Reduce” and an average target price of $1.00.

About Nerdy

Nerdy, Inc (NYSE:NRDY) is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.