Christopher C. Swenson Sells 53,514 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) insider Christopher C. Swenson sold 53,514 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $89,368.38. Following the completion of the transaction, the insider now directly owns 1,612,388 shares of the company’s stock, valued at $2,692,687.96. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nerdy Stock Performance

NRDY stock traded down $0.09 during trading on Tuesday, hitting $1.62. 443,523 shares of the company traded hands, compared to its average volume of 1,702,947. The company has a 50-day moving average of $1.53 and a 200-day moving average of $1.56. The firm has a market capitalization of $294.65 million, a PE ratio of -4.75 and a beta of 1.92. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $2.18.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. The company had revenue of $47.60 million for the quarter, compared to the consensus estimate of $46.22 million. Sell-side analysts expect that Nerdy, Inc. will post -0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their target price on shares of Nerdy from $1.00 to $1.50 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.31.

Institutional Trading of Nerdy

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in Nerdy by 33.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 230,538 shares of the company’s stock valued at $373,000 after buying an additional 57,846 shares during the last quarter. Barclays PLC increased its holdings in shares of Nerdy by 330.4% during the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after acquiring an additional 79,808 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Nerdy by 14,175.0% in the 4th quarter. Quantbot Technologies LP now owns 28,550 shares of the company’s stock worth $46,000 after purchasing an additional 28,350 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Nerdy by 56.2% in the 4th quarter. Wells Fargo & Company MN now owns 36,122 shares of the company’s stock worth $59,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Nerdy during the 4th quarter valued at about $150,000. Institutional investors own 39.10% of the company’s stock.

About Nerdy

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.