Nerdy, Inc. (NYSE:NRDY) Insider Christopher C. Swenson Sells 35,000 Shares

Nerdy, Inc. (NYSE:NRDY) insider Christopher C. Swenson sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total value of $43,400.00. Following the completion of the sale, the insider now directly owns 1,768,248 shares in the company, valued at approximately $2,192,627.52. This represents a 1.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Nerdy Stock Performance

Shares of NYSE:NRDY traded up $0.08 on Friday, hitting $1.41. The stock had a trading volume of 3,588,914 shares, compared to its average volume of 1,663,295. The firm’s 50 day moving average price is $0.99 and its 200-day moving average price is $1.37. Nerdy, Inc. has a twelve month low of $0.73 and a twelve month high of $3.60. The company has a market capitalization of $253.43 million, a price-to-earnings ratio of -4.13 and a beta of 1.68.

Hedge Funds Weigh In On Nerdy

Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Nerdy in the second quarter worth $34,000. SG Americas Securities LLC bought a new position in shares of Nerdy in the third quarter valued at about $29,000. AM Investment Strategies LLC bought a new stake in Nerdy during the 3rd quarter worth about $29,000. Bayesian Capital Management LP acquired a new stake in Nerdy in the 1st quarter valued at about $101,000. Finally, Rhumbline Advisers raised its stake in shares of Nerdy by 11.6% in the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NRDY shares. Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.86.

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.