Insider Selling: Nerdy (NYSE:NRDY) Insider Sells $17,734.64 in Stock

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

Nerdy Trading Up 0.5%

NYSE NRDY traded up $0.00 during 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’s fifty day moving average is $0.87 and its 200-day moving average is $0.97. Nerdy Inc. has a one year low of $0.75 and a one year high of $1.74. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.67. The company has a market cap of $171.29 million, a price-to-earnings ratio of -3.22 and a beta of 1.76.

Nerdy (NYSE:NRDY) last announced its earnings results 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. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. The firm had revenue of $48.73 million for the quarter, compared to analyst estimates of $47.33 million. On average, sell-side analysts predict that Nerdy Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Nerdy

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after buying an additional 15,234 shares during the period. Geode Capital Management LLC lifted its position in Nerdy by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company’s stock valued at $1,620,000 after acquiring an additional 17,325 shares during the period. Jane Street Group LLC boosted its stake in Nerdy by 27.0% during the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after acquiring an additional 17,768 shares in the last quarter. Bank of America Corp DE boosted its stake in Nerdy by 41.9% during the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after acquiring an additional 17,889 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Nerdy in the fourth quarter worth about $25,000. Institutional investors own 39.10% of the company’s stock.

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.