Christopher Swenson Sells 69,796 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 69,796 shares of Nerdy stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $0.93, for a total value of $64,910.28. Following the transaction, the insider directly owned 1,934,580 shares in the company, valued at approximately $1,799,159.40. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nerdy Trading Down 2.1%

NRDY opened at $0.92 on Wednesday. The firm has a market cap of $173.13 million, a price-to-earnings ratio of -2.70 and a beta of 1.84. Nerdy Inc. has a 52 week low of $0.75 and a 52 week high of $1.90. The business’s 50 day moving average is $0.90 and its two-hundred day moving average is $1.03. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.67.

Nerdy (NYSE:NRDY) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $49.11 million for the quarter, compared to analyst estimates of $45.75 million. Nerdy had a negative return on equity of 95.27% and a negative net margin of 22.30%. On average, research analysts predict that Nerdy Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Nerdy in the fourth quarter valued at approximately $25,000. Symmetry Peak Management LLC acquired a new position in shares of Nerdy in the fourth quarter valued at approximately $26,000. Engineers Gate Manager LP acquired a new position in shares of Nerdy in the fourth quarter valued at approximately $28,000. AQR Capital Management LLC increased its holdings 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 valued at $53,000 after purchasing an additional 15,234 shares during the period. Finally, Strs Ohio acquired a new position in shares of Nerdy in the first quarter valued at approximately $56,000. Institutional investors and hedge funds 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.