Jason H. Pello Sells 70,490 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CFO Jason H. Pello sold 70,490 shares of Nerdy stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.06, for a total transaction of $74,719.40. Following the transaction, the chief financial officer now directly owns 2,255,428 shares of the company’s stock, valued at approximately $2,390,753.68. This trade represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nerdy Stock Performance

Shares of NYSE:NRDY opened at $1.32 on Friday. The firm has a market cap of $237.20 million, a price-to-earnings ratio of -3.87 and a beta of 1.68. The business has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.37. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 price objective (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Northland Capmk downgraded Nerdy from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. Finally, Barclays reduced their price objective on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.86.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management purchased a new stake in Nerdy in the third quarter worth approximately $867,000. Vanguard Group Inc. boosted its stake in shares of Nerdy by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock worth $9,025,000 after buying an additional 88,771 shares during the last quarter. Greenvale Capital LLP grew its holdings in shares of Nerdy by 6.0% in the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after acquiring an additional 509,004 shares during the period. SG Americas Securities LLC purchased a new stake in Nerdy during the third quarter valued at $29,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Nerdy by 286.7% in the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after acquiring an additional 192,635 shares during the period. 39.10% of the stock is owned by hedge funds and other institutional investors.

Nerdy Company Profile

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.