Christopher Swenson Sells 20,153 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 20,153 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $0.88, for a total value of $17,734.64. Following the completion of the sale, the insider directly owned 1,891,631 shares in the company, valued at approximately $1,664,635.28. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nerdy Stock Up 0.5%

Shares of Nerdy stock traded up $0.00 during midday trading on Thursday, hitting $0.90. The company had a trading volume of 772,076 shares, compared to its average volume of 664,028. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $171.29 million, a P/E ratio of -3.22 and a beta of 1.76. The company has a 50 day moving average of $0.87 and a 200 day moving average of $0.97. Nerdy Inc. has a 52-week low of $0.75 and a 52-week high of $1.74.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NRDY. Moneta Group Investment Advisors LLC lifted its stake 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 worth $300,000 after buying an additional 150,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Nerdy during the second quarter valued at approximately $221,000. Bridgeway Capital Management LLC increased its position in shares of Nerdy by 62.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock valued at $276,000 after acquiring an additional 102,400 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in Nerdy in the 4th quarter worth approximately $101,000. Finally, Bank of America Corp DE raised its holdings in Nerdy by 236.2% in the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after acquiring an additional 86,791 shares during the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

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.