Nerdy, Inc. (NYSE:NRDY) Insider Sells $43,400.00 in Stock

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

Nerdy Stock Up 6.1 %

Shares of NRDY stock opened at $1.40 on Monday. The stock has a 50-day moving average of $0.99 and a 200-day moving average of $1.34. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60.

Institutional Trading of Nerdy

A number of institutional investors and hedge funds have recently modified their holdings of NRDY. Millennium Management LLC increased its stake in Nerdy by 382.0% during the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after purchasing an additional 1,486,910 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Nerdy during the 3rd quarter worth approximately $867,000. Greenvale Capital LLP increased its stake in Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after purchasing an additional 509,004 shares in the last quarter. Clearline Capital LP increased its stake in Nerdy by 34.3% during the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after purchasing an additional 471,603 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Nerdy by 12.9% during the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after purchasing an additional 224,049 shares in the last quarter. 39.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NRDY. Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Northland Securities cut their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Friday, November 8th. Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Barclays cut their target price on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One investment 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. Based on data from MarketBeat.com, Nerdy currently has an average rating of “Hold” and an average target price of $2.86.

About Nerdy

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.