Nerdy Inc. (NYSE:NRDY) Sees Significant Decrease in Short Interest

Nerdy Inc. (NYSE:NRDY) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 359,465 shares, a decline of 92.9% from the August 15th total of 5,065,825 shares. Approximately 5.7% of the company’s shares are sold short. Based on an average daily volume of 36,454 shares, the days-to-cover ratio is presently 9.9 days.

Insider Buying and Selling

In other news, CEO Charles Cohn purchased 16,667 shares of the stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $250,005.00. Following the completion of the transaction, the chief executive officer directly owned 65,220 shares in the company, valued at approximately $978,300. This represents a 34.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 50.99% of the stock is owned by company insiders.

Institutional Trading of Nerdy

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Nerdy during the 4th quarter worth approximately $25,000. Symmetry Peak Management LLC purchased a new stake in shares of Nerdy during the 4th quarter worth $26,000. Engineers Gate Manager LP purchased a new stake in shares of Nerdy during the 4th quarter worth $28,000. AQR Capital Management LLC grew its stake in shares of Nerdy by 67.9% during the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after purchasing an additional 15,234 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Nerdy during the first quarter worth $56,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Stock Up 4.0%

Shares of Nerdy stock traded up $0.36 during trading hours on Friday, reaching $9.46. 28,194 shares of the company were exchanged, compared to its average volume of 31,622. The firm has a market cap of $120.90 million, a PE ratio of -2.52 and a beta of 1.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.70 and a current ratio of 2.70. Nerdy has a 1 year low of $8.55 and a 1 year high of $22.35. The stock’s fifty day moving average is $11.46 and its 200 day moving average is $12.55.

Nerdy (NYSE:NRDY) last released its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.71. Nerdy had a negative return on equity of 100.13% and a negative net margin of 16.99%.The firm had revenue of $43.23 million during the quarter, compared to analyst estimates of $43.00 million. As a group, equities research analysts forecast that Nerdy will post -2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a report on Friday, July 17th. Wall Street Zen lowered shares of Nerdy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $15.00.

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.