Insider Selling: Nerdy (NYSE:NRDY) COO Sells $18,641.57 in Stock

Nerdy Inc. (NYSE:NRDY) COO John Andrew Paszterko sold 18,457 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $1.01, for a total value of $18,641.57. Following the sale, the chief operating officer directly owned 581,543 shares of the company’s stock, valued at approximately $587,358.43. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Nerdy Stock Up 11.1%

Shares of NYSE NRDY opened at $1.16 on Friday. The firm’s fifty day moving average is $1.13 and its 200 day moving average is $1.24. Nerdy Inc. has a 52 week low of $0.77 and a 52 week high of $2.02. The company has a market cap of $216.37 million, a price-to-earnings ratio of -3.30 and a beta of 1.80.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. Nerdy had a negative net margin of 22.95% and a negative return on equity of 81.74%. The business had revenue of $37.02 million during the quarter, compared to analysts’ expectations of $38.77 million. Equities research analysts anticipate that Nerdy Inc. will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on NRDY. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Wall Street Zen upgraded Nerdy from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Cantor Fitzgerald dropped their price target on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of Nerdy by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock valued at $5,950,000 after purchasing an additional 15,674 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Nerdy by 170.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after purchasing an additional 150,000 shares in the last quarter. Marshall Wace LLP purchased a new position in Nerdy during the second quarter valued at $221,000. Bank of America Corp DE lifted its position in Nerdy by 236.2% during the second quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock valued at $201,000 after buying an additional 86,791 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of Nerdy during the 4th quarter valued at $101,000. Hedge funds and other institutional investors 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.