Christopher Swenson Sells 19,204 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 19,204 shares of Nerdy stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $1.20, for a total value of $23,044.80. Following the sale, the insider directly owned 1,490,383 shares of the company’s stock, valued at $1,788,459.60. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Nerdy Stock Performance

NYSE:NRDY opened at $1.23 on Friday. Nerdy Inc. has a 1 year low of $0.77 and a 1 year high of $2.02. The stock has a market cap of $229.48 million, a P/E ratio of -3.50 and a beta of 1.78. The stock has a 50-day simple moving average of $1.11 and a 200-day simple moving average of $1.34.

Nerdy (NYSE:NRDY) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.06. The firm had revenue of $37.02 million during the quarter, compared to analysts’ expectations of $38.77 million. Nerdy had a negative return on equity of 81.74% and a negative net margin of 22.95%. On average, equities research analysts predict that Nerdy Inc. will post -0.43 EPS for the current year.

Institutional Investors Weigh In On Nerdy

Several hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new stake in Nerdy during the 1st quarter valued at approximately $508,000. Voya Investment Management LLC purchased a new position in shares of Nerdy in the 1st quarter valued at approximately $30,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Nerdy by 170.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after purchasing an additional 150,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Nerdy in the second quarter valued at approximately $221,000. Finally, Bank of America Corp DE raised its stake 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 worth $201,000 after purchasing an additional 86,791 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NRDY. Cantor Fitzgerald dropped their target price on shares of Nerdy from $1.50 to $1.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Wall Street Zen raised Nerdy from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nerdy currently has an average rating of “Reduce” and a consensus target price of $1.25.

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.