Insider Selling: Nerdy (NYSE:NRDY) CFO Sells 49,814 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CFO Jason Pello sold 49,814 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $0.97, for a total value of $48,319.58. Following the sale, the chief financial officer owned 2,646,235 shares in the company, valued at approximately $2,566,847.95. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Nerdy Stock Down 1.3%

Shares of NRDY stock traded down $0.01 on Wednesday, reaching $0.96. The company’s stock had a trading volume of 379,977 shares, compared to its average volume of 728,756. The company has a market capitalization of $179.27 million, a P/E ratio of -2.73 and a beta of 1.80. Nerdy Inc. has a 12-month low of $0.77 and a 12-month high of $1.90. The stock’s 50 day simple moving average is $1.08 and its 200-day simple moving average is $1.16.

Institutional Investors Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Nerdy by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after buying an additional 15,234 shares during the period. Franklin Resources Inc. raised its stake in shares of Nerdy by 0.4% during the second quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock valued at $5,950,000 after acquiring an additional 15,674 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Nerdy by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company’s stock worth $1,620,000 after purchasing an additional 17,325 shares during the period. Jane Street Group LLC grew its stake in shares of Nerdy by 27.0% in the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after purchasing an additional 17,768 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after purchasing an additional 17,889 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised Nerdy from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald cut their price target 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $1.25.

Nerdy Company Profile

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.