Insider Selling: Nerdy, Inc. (NYSE:NRDY) CFO Sells 37,351 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CFO Jason H. Pello sold 37,351 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $2.51, for a total transaction of $93,751.01. Following the completion of the transaction, the chief financial officer now owns 1,578,238 shares in the company, valued at approximately $3,961,377.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Nerdy Trading Down 0.4 %

NYSE NRDY traded down $0.01 during trading hours on Monday, hitting $2.51. 1,164,313 shares of the company’s stock were exchanged, compared to its average volume of 841,156. Nerdy, Inc. has a 1-year low of $1.86 and a 1-year high of $5.37. The stock has a 50-day simple moving average of $3.28 and a 200 day simple moving average of $3.75. The firm has a market cap of $430.83 million, a price-to-earnings ratio of -5.34 and a beta of 2.18.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. Nerdy had a negative net margin of 24.01% and a negative return on equity of 58.63%. The firm had revenue of $40.30 million for the quarter, compared to analyst estimates of $39.05 million. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Nerdy, Inc. will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NRDY. Russell Investments Group Ltd. purchased a new stake in shares of Nerdy during the second quarter valued at approximately $27,000. Royal Bank of Canada raised its stake in shares of Nerdy by 3,036.0% during the 1st quarter. Royal Bank of Canada now owns 5,488 shares of the company’s stock worth $28,000 after purchasing an additional 5,313 shares during the period. Barclays PLC boosted its holdings in shares of Nerdy by 552.3% in the 4th quarter. Barclays PLC now owns 14,989 shares of the company’s stock worth $34,000 after buying an additional 12,691 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new position in Nerdy during the third quarter valued at about $41,000. Finally, Goodwin Daniel L purchased a new stake in Nerdy during the second quarter worth about $42,000. Institutional investors own 38.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NRDY shares. The Goldman Sachs Group reduced their target price on Nerdy from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Thursday, November 9th. Barclays upped their price target on shares of Nerdy from $3.50 to $5.00 in a report on Wednesday, August 9th. Raymond James dropped their target price on Nerdy from $5.50 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Needham & Company LLC reduced their price target on Nerdy from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $6.00 price objective on shares of Nerdy in a report on Monday, August 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nerdy has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI 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.