Insider Selling: Nerdy, Inc. (NYSE:NRDY) Insider Sells 53,514 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) insider Christopher C. Swenson sold 53,514 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $1.67, for a total value of $89,368.38. Following the sale, the insider now owns 1,612,388 shares in the company, valued at approximately $2,692,687.96. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nerdy Stock Performance

NRDY opened at $1.62 on Wednesday. The stock has a market cap of $294.65 million, a price-to-earnings ratio of -4.75 and a beta of 1.92. The stock’s 50 day moving average price is $1.54 and its 200-day moving average price is $1.56. Nerdy, Inc. has a one year low of $0.73 and a one year high of $2.18.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.05. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. The company had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $46.22 million. As a group, analysts predict that Nerdy, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd bought a new position in Nerdy in the fourth quarter worth approximately $26,000. Cambridge Investment Research Advisors Inc. bought a new position in Nerdy in the first quarter worth approximately $26,000. ProShare Advisors LLC grew its stake in Nerdy by 55.2% in the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after purchasing an additional 7,594 shares in the last quarter. Virtu Financial LLC grew its stake in Nerdy by 59.1% in the fourth quarter. Virtu Financial LLC now owns 23,294 shares of the company’s stock worth $38,000 after purchasing an additional 8,655 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Nerdy in the fourth quarter worth approximately $40,000. Institutional investors own 39.10% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price objective on Nerdy from $1.00 to $1.50 and gave the company a “neutral” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.31.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.