Nerdy (NYSE:NRDY) Shares Down 0.6% – Here’s Why

Nerdy Inc. (NYSE:NRDY) shares were down 0.6% during trading on Thursday . The company traded as low as $0.89 and last traded at $0.9050. 216,427 shares changed hands during trading, a decline of 81% from the average session volume of 1,126,620 shares. The stock had previously closed at $0.9108.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $1.00.

Nerdy Stock Down 0.6%

The firm has a market capitalization of $172.05 million, a price-to-earnings ratio of -3.23 and a beta of 1.73. The business’s 50-day moving average is $0.87 and its two-hundred day moving average is $0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. The firm had revenue of $48.73 million during the quarter, compared to analysts’ expectations of $47.33 million. On average, equities analysts anticipate that Nerdy Inc. will post -0.18 earnings per share for the current year.

Insider Transactions at Nerdy

In other Nerdy news, CEO Charles K. Cohn acquired 258,204 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $0.97 per share, with a total value of $250,457.88. Following the purchase, the chief executive officer owned 477,223 shares of the company’s stock, valued at $462,906.31. This represents a 117.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Andrew Paszterko sold 31,788 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $0.93, for a total value of $29,562.84. Following the sale, the chief operating officer directly owned 1,149,755 shares in the company, valued at $1,069,272.15. The trade was a 2.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have bought 978,311 shares of company stock valued at $950,853 and have sold 121,737 shares valued at $112,208. Insiders own 51.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after acquiring an additional 17,889 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Nerdy by 67.9% during the 1st 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 in the last quarter. Strs Ohio bought a new position in shares of Nerdy during the 1st quarter valued at about $56,000. Marshall Wace LLP acquired a new position in shares of Nerdy in the 2nd quarter valued at approximately $221,000. Finally, Jane Street Group LLC increased its stake in Nerdy by 27.0% during the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after purchasing an additional 17,768 shares in the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

Nerdy Company Profile

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.