Christopher Swenson Sells 18,366 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 18,366 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $0.90, for a total transaction of $16,529.40. Following the completion of the sale, the insider owned 2,004,376 shares in the company, valued at $1,803,938.40. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nerdy Trading Up 0.6%

Shares of Nerdy stock opened at $0.83 on Friday. Nerdy Inc. has a 1 year low of $0.77 and a 1 year high of $1.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.27 and a quick ratio of 2.27. The business has a 50 day moving average price of $0.98 and a 200 day moving average price of $1.10. The company has a market capitalization of $154.92 million, a P/E ratio of -2.43 and a beta of 1.80.

Nerdy (NYSE:NRDY) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Nerdy had a negative return on equity of 95.27% and a negative net margin of 22.30%.The company had revenue of $49.11 million for the quarter, compared to analysts’ expectations of $45.75 million. Sell-side analysts anticipate that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nerdy currently has a consensus rating of “Reduce” and a consensus price target of $1.00.

Institutional Investors Weigh In On Nerdy

Several hedge funds have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC grew its position 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 stake in Nerdy in the 2nd quarter worth about $221,000. Bridgeway Capital Management LLC boosted its stake in Nerdy by 62.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after buying an additional 102,400 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new stake in Nerdy in the 4th quarter valued at about $101,000. Finally, Bank of America Corp DE increased its stake in shares of Nerdy by 236.2% during the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock valued at $201,000 after acquiring an additional 86,791 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.