Insider Selling: Nerdy (NYSE:NRDY) COO Sells 31,788 Shares of Stock

Nerdy Inc. (NYSE:NRDY) COO John Andrew Paszterko sold 31,788 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $0.93, for a total value of $29,562.84. Following the completion of the sale, the chief operating officer owned 1,149,755 shares of the company’s stock, valued at $1,069,272.15. The trade was a 2.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nerdy Trading Down 1.2%

Shares of NYSE NRDY traded down $0.01 during trading hours on Monday, reaching $0.93. The stock had a trading volume of 839,681 shares, compared to its average volume of 724,793. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The firm has a market cap of $175.21 million, a price-to-earnings ratio of -2.73 and a beta of 1.84. The business’s fifty day moving average price is $0.90 and its two-hundred day moving average price is $1.03. Nerdy Inc. has a 52-week low of $0.75 and a 52-week high of $1.90.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The firm had revenue of $49.11 million during the quarter, compared to analysts’ expectations of $45.75 million. Nerdy had a negative net margin of 22.30% and a negative return on equity of 95.27%. Analysts expect that Nerdy Inc. will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $1.00.

Institutional Trading of Nerdy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC lifted its position in shares of Nerdy by 62.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock valued at $276,000 after buying an additional 102,400 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Nerdy during the second quarter valued at about $221,000. Bank of America Corp DE lifted its position in shares of 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 last quarter. Jane Street Group LLC lifted its position in shares of Nerdy by 27.0% during the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after buying an additional 17,768 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Nerdy by 80.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock valued at $68,000 after buying an additional 29,007 shares during the last quarter. Institutional investors own 39.10% of the company’s stock.

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.