Christopher C. Swenson Sells 30,000 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) insider Christopher C. Swenson sold 30,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $2.53, for a total value of $75,900.00. Following the sale, the insider now directly owns 1,203,248 shares of the company’s stock, valued at approximately $3,044,217.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Price Performance

Shares of NRDY stock opened at $2.61 on Friday. Nerdy, Inc. has a 12-month low of $2.31 and a 12-month high of $5.37. The firm has a market capitalization of $453.38 million, a price-to-earnings ratio of -6.21 and a beta of 1.90. The business has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $3.01.

Nerdy (NYSE:NRDY) last released its earnings results on Tuesday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $55.10 million during the quarter, compared to analyst estimates of $54.77 million. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, equities analysts anticipate that Nerdy, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of Nerdy

Hedge funds have recently modified their holdings of the business. Cutter & CO Brokerage Inc. purchased a new stake in shares of Nerdy in the third quarter valued at $41,000. SG Americas Securities LLC purchased a new stake in shares of Nerdy in the fourth quarter valued at $50,000. Tower Research Capital LLC TRC raised its holdings in shares of Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after acquiring an additional 14,244 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Nerdy during the third quarter worth $56,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Nerdy during the third quarter worth $59,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NRDY. Needham & Company LLC reissued a “buy” rating and set a $4.00 price target on shares of Nerdy in a research report on Wednesday, February 28th. JPMorgan Chase & Co. began coverage on Nerdy in a research report on Monday, March 11th. They set an “overweight” rating and a $5.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4.71.

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.