Nerdy (NYSE:NRDY) Trading Down 0.7% – Should You Sell?

Nerdy Inc. (NYSE:NRDY)’s share price traded down 0.7% on Thursday . The stock traded as low as $0.9837 and last traded at $0.9930. 849,232 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 768,239 shares. The stock had previously closed at $1.00.

Analysts Set New Price Targets

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

Nerdy Trading Down 0.7%

The stock has a market cap of $186.02 million, a price-to-earnings ratio of -2.84 and a beta of 1.80. The firm’s 50 day moving average is $1.10 and its two-hundred day moving average is $1.18.

Insider Activity

In related news, CEO Charles K. Cohn bought 270,578 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $0.91 per share, with a total value of $246,225.98. Following the completion of the transaction, the chief executive officer owned 30,779,769 shares of the company’s stock, valued at approximately $28,009,589.79. The trade was a 0.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 3,312,265 shares of company stock worth $4,156,430 and have sold 252,446 shares worth $292,028. Insiders own 50.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDY. AQR Capital Management LLC increased its position in shares of Nerdy by 67.9% in the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after acquiring an additional 15,234 shares in the last quarter. Strs Ohio purchased a new stake in Nerdy during the 1st quarter worth $56,000. Jefferies Financial Group Inc. purchased a new stake in Nerdy during the 4th quarter worth $78,000. Bank of America Corp DE increased its holdings in Nerdy by 41.9% in the 4th 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 in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in Nerdy in the 4th quarter valued at $101,000. 39.10% of the stock is owned by institutional investors and hedge funds.

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.