Nerdy (NYSE:NRDY) Trading Down 3% – Here’s What Happened

Shares of Nerdy Inc. (NYSE:NRDY) traded down 3% on Wednesday . The stock traded as low as $0.7807 and last traded at $0.7860. 389,792 shares changed hands during trading, an increase of 1% from the average session volume of 387,303 shares. The stock had previously closed at $0.81.

Analysts Set New Price Targets

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

Nerdy Trading Down 3.0%

The company has a market capitalization of $149.43 million, a P/E ratio of -2.81 and a beta of 1.76. The business has a fifty day moving average price of $0.86 and a 200 day moving average price of $0.98. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.67.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $48.74 million for the quarter, compared to analyst estimates of $47.33 million. Nerdy had a negative return on equity of 93.27% and a negative net margin of 18.60%. On average, analysts expect that Nerdy Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christopher C. Swenson sold 69,796 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $0.93, for a total value of $64,910.28. Following the sale, the insider directly owned 1,934,580 shares in the company, valued at $1,799,159.40. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jason H. Pello sold 30,609 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $0.90, for a total value of $27,548.10. Following the completion of the sale, the chief financial officer owned 2,540,626 shares in the company, valued at approximately $2,286,563.40. This trade represents a 1.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 225,559 shares of company stock worth $207,551 over the last three months. Corporate insiders own 51.54% of the company’s stock.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Abel Hall LLC bought a new stake in Nerdy during the fourth quarter worth about $67,000. Wells Fargo & Company MN raised its holdings in Nerdy by 80.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock worth $68,000 after acquiring an additional 29,007 shares in the last quarter. Bank of America Corp DE raised its holdings in Nerdy by 236.2% during the second quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after acquiring an additional 86,791 shares in the last quarter. Jane Street Group LLC raised its holdings 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. Finally, Marshall Wace LLP bought a new stake in Nerdy during the second quarter worth about $221,000. 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.