Nerdy, Inc. (NYSE:NRDY) Major Shareholder Light Street Capital Managemen Sells 63,000 Shares

Nerdy, Inc. (NYSE:NRDYGet Rating) major shareholder Light Street Capital Managemen sold 63,000 shares of Nerdy stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $3.11, for a total value of $195,930.00. Following the completion of the sale, the insider now owns 9,037,000 shares in the company, valued at $28,105,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Light Street Capital Managemen also recently made the following trade(s):

  • On Thursday, June 23rd, Light Street Capital Managemen sold 400 shares of Nerdy stock. The shares were sold at an average price of $2.81, for a total value of $1,124.00.

Nerdy stock traded down $0.06 during trading on Thursday, hitting $2.73. The company’s stock had a trading volume of 1,118,299 shares, compared to its average volume of 799,680. The stock has a market capitalization of $434.14 million, a price-to-earnings ratio of -10.50 and a beta of 0.55. The stock’s fifty day moving average is $3.07 and its 200 day moving average is $4.08. Nerdy, Inc. has a 1-year low of $1.59 and a 1-year high of $13.49.

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Nerdy by 3,036.0% during the first quarter. Royal Bank of Canada now owns 5,488 shares of the company’s stock worth $28,000 after acquiring an additional 5,313 shares during the last quarter. Citigroup Inc. acquired a new stake in Nerdy during the first quarter worth about $55,000. Bank of America Corp DE increased its stake in Nerdy by 108,950.0% during the first quarter. Bank of America Corp DE now owns 13,086 shares of the company’s stock worth $67,000 after acquiring an additional 13,074 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in Nerdy during the first quarter worth about $74,000. Finally, Sciencast Management LP acquired a new stake in Nerdy during the first quarter worth about $99,000. Hedge funds and other institutional investors own 56.01% of the company’s stock.

A number of analysts recently weighed in on the company. Raymond James decreased their price target on Nerdy from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. Northland Securities decreased their target price on Nerdy from $10.00 to $5.00 in a research report on Tuesday, May 17th. JMP Securities decreased their target price on Nerdy from $11.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 17th. The Goldman Sachs Group downgraded Nerdy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $3.00 in a research report on Tuesday, May 17th. Finally, JPMorgan Chase & Co. decreased their target price on Nerdy from $11.00 to $7.00 in a research report on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

About Nerdy (Get Rating)

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.

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