Nerdy (NYSE:NRDY) CFO Sells $48,319.58 in Stock

Nerdy Inc. (NYSE:NRDY) CFO Jason Pello sold 49,814 shares of Nerdy stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $0.97, for a total value of $48,319.58. Following the completion of 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 legal filing with the SEC, which is accessible through this link.

Nerdy Stock Performance

Shares of Nerdy stock traded down $0.01 during midday trading on Wednesday, reaching $0.96. 379,977 shares of the company’s stock traded hands, compared to its average volume of 728,756. The company has a market cap of $179.27 million, a PE ratio of -2.73 and a beta of 1.80. The stock has a 50 day moving average of $1.08 and a 200-day moving average of $1.16. Nerdy Inc. has a 12 month low of $0.77 and a 12 month high of $1.90.

Hedge Funds Weigh In On Nerdy

A number of institutional investors and hedge funds have recently made changes to their positions in NRDY. Bank of America Corp DE lifted its holdings in shares of Nerdy by 41.9% during 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 last quarter. AQR Capital Management LLC increased 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 in the last quarter. Strs Ohio purchased a new position in Nerdy during the first quarter valued at $56,000. Franklin Resources Inc. raised its stake in 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 buying an additional 15,674 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Nerdy in the second quarter worth $221,000. Institutional investors own 39.10% of the company’s stock.

Analysts Set New Price Targets

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

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.