Insider Selling: Nerdy, Inc. (NYSE:NRDY) Insider Sells 30,000 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) insider Christopher C. Swenson sold 30,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $2.53, for a total value of $75,900.00. Following the completion of the transaction, the insider now directly owns 1,203,248 shares of the company’s stock, valued at $3,044,217.44. The sale was disclosed in a filing with the SEC, which is available through this link.

Nerdy Stock Up 6.0 %

NYSE NRDY opened at $2.76 on Friday. The firm’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $3.01. Nerdy, Inc. has a 1-year low of $2.31 and a 1-year high of $5.37.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. The business had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $54.77 million. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, equities analysts anticipate that Nerdy, Inc. will post -0.33 earnings per share for the current year.

Institutional Trading of Nerdy

Several large investors have recently made changes to their positions in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Nerdy by 14.0% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 30,641 shares of the company’s stock valued at $113,000 after purchasing an additional 3,761 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new position in shares of Nerdy during the third quarter valued at about $41,000. Tower Research Capital LLC TRC grew its position in Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after buying an additional 14,244 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Nerdy during the fourth quarter valued at approximately $50,000. Finally, PEAK6 Investments LLC bought a new stake in Nerdy in the 3rd quarter valued at $56,000. Institutional investors own 39.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on NRDY shares. Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Nerdy in a research report on Wednesday, February 28th. JPMorgan Chase & Co. began coverage on Nerdy in a research report on Monday, March 11th. They issued an “overweight” rating and a $5.00 target price for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.71.

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.