Short Interest in Nerdy, Inc. (NYSE:NRDY) Declines By 11.0%

Nerdy, Inc. (NYSE:NRDY – Get Rating) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,800,000 shares, a drop of 11.0% from the February 13th total of 4,270,000 shares. Approximately 6.1% of the shares of the company are short sold. Based on an average daily trading volume, of 766,200 shares, the days-to-cover ratio is presently 5.0 days.

Insiders Place Their Bets

In other Nerdy news, insider Christopher C. Swenson sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $3.36, for a total transaction of $50,400.00. Following the completion of the transaction, the insider now directly owns 868,163 shares of the company’s stock, valued at approximately $2,917,027.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Christopher C. Swenson sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $3.36, for a total transaction of $50,400.00. Following the sale, the insider now owns 868,163 shares of the company’s stock, valued at approximately $2,917,027.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason H. Pello sold 43,603 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $2.72, for a total transaction of $118,600.16. Following the sale, the chief financial officer now directly owns 969,184 shares in the company, valued at approximately $2,636,180.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,577,503 shares of company stock valued at $3,077,968. 31.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC raised its holdings in Nerdy by 192,744.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,837,333 shares of the company’s stock valued at $123,384,000 after buying an additional 54,808,897 shares during the period. Bank of Montreal Can acquired a new position in Nerdy in the 4th quarter valued at about $2,107,000. Goldman Sachs Group Inc. grew its position in Nerdy by 29.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,987,562 shares of the company’s stock valued at $8,494,000 after acquiring an additional 903,471 shares in the last quarter. Credit Suisse AG grew its position in Nerdy by 63.2% in the 2nd quarter. Credit Suisse AG now owns 2,012,767 shares of the company’s stock valued at $4,287,000 after acquiring an additional 779,353 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Nerdy by 213.8% in the 3rd quarter. Renaissance Technologies LLC now owns 975,297 shares of the company’s stock valued at $2,058,000 after acquiring an additional 664,497 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.

Nerdy Stock Performance

Shares of NRDY stock opened at $3.26 on Monday. The stock’s fifty day moving average is $2.84 and its two-hundred day moving average is $2.51. The firm has a market capitalization of $523.30 million, a P/E ratio of -7.58 and a beta of 1.35. Nerdy has a fifty-two week low of $1.59 and a fifty-two week high of $5.61.

Nerdy (NYSE:NRDY – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. Nerdy had a negative return on equity of 98.82% and a negative net margin of 21.76%. The business had revenue of $41.80 million for the quarter, compared to analyst estimates of $40.02 million. On average, equities analysts forecast that Nerdy will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

NRDY has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Nerdy in a research note on Wednesday, March 1st. Cantor Fitzgerald raised their price objective on shares of Nerdy from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. The Goldman Sachs Group lifted their price target on shares of Nerdy from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Canaccord Genuity Group dropped their price target on shares of Nerdy from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 15th. Finally, Canaccord Genuity Group dropped their price target on shares of Nerdy from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 15th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nerdy presently has an average rating of “Moderate Buy” and a consensus price target of $4.90.

Nerdy Company Profile

(Get Rating)

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.