Nerdy (NYSE:NRDY) Insider Christopher Swenson Sells 69,796 Shares

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 69,796 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $0.93, for a total transaction of $64,910.28. Following the sale, the insider owned 1,934,580 shares of the company’s stock, valued at $1,799,159.40. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nerdy Trading Down 1.2%

Shares of NRDY stock opened at $0.93 on Tuesday. The company has a 50 day moving average of $0.90 and a 200-day moving average of $1.03. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.67. Nerdy Inc. has a 12-month low of $0.75 and a 12-month high of $1.90. The firm has a market cap of $175.21 million, a P/E ratio of -2.73 and a beta of 1.84.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data 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 net margin of 22.30% and a negative return on equity of 95.27%. The firm had revenue of $49.11 million for the quarter, compared to the consensus estimate of $45.75 million. Sell-side analysts anticipate that Nerdy Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Nerdy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC increased its position in shares of Nerdy by 170.7% during the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after buying an additional 150,000 shares during the period. Marshall Wace LLP bought a new stake in shares of Nerdy during the second quarter valued at about $221,000. Bridgeway Capital Management LLC boosted its holdings in Nerdy by 62.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock valued at $276,000 after purchasing an additional 102,400 shares during the period. Thompson Davis & CO. Inc. bought a new position in Nerdy in the 4th quarter valued at $101,000. Finally, Bank of America Corp DE boosted 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 valued at $201,000 after purchasing an additional 86,791 shares during the period. 39.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $1.00.

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.