Nerdy (NYSE:NRDY) Stock Price Down 0.7% – What’s Next?

Nerdy Inc. (NYSE:NRDY) traded down 0.7% during mid-day trading on Thursday . The company traded as low as $0.9837 and last traded at $0.9930. 849,232 shares changed hands during trading, an increase of 11% from the average session volume of 768,239 shares. The stock had previously closed at $1.00.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Nerdy from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Cantor Fitzgerald reduced their target price on Nerdy from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.25.

Nerdy Stock Performance

The stock has a fifty day simple moving average of $1.10 and a 200-day simple moving average of $1.18. The stock has a market cap of $188.27 million, a P/E ratio of -2.87 and a beta of 1.80.

Insider Activity at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 32,006 shares of Nerdy stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $1.20, for a total value of $38,407.20. Following the sale, the chief financial officer directly owned 1,696,049 shares in the company, valued at approximately $2,035,258.80. The trade was a 1.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher C. Swenson sold 35,000 shares of Nerdy stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $1.33, for a total value of $46,550.00. Following the completion of the sale, the insider directly owned 1,455,383 shares in the company, valued at approximately $1,935,659.39. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have bought 3,312,265 shares of company stock valued at $4,156,430 and have sold 252,446 shares valued at $292,028. 50.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Nerdy

A number of institutional investors have recently bought and sold shares of NRDY. AQR Capital Management LLC lifted its position in shares of Nerdy by 67.9% in the first 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 last quarter. Strs Ohio acquired a new stake in Nerdy during the 1st quarter valued at $56,000. Wells Fargo & Company MN boosted its position in Nerdy by 80.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock worth $68,000 after purchasing an additional 29,007 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Nerdy in the fourth quarter valued at $78,000. Finally, Bank of America Corp DE raised its position 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 valued at $98,000 after purchasing an additional 17,889 shares during the period. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.