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

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 20,153 shares of the business’s 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 transaction, the insider directly owned 1,891,631 shares in the company, valued at $1,664,635.28. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nerdy Stock Up 5.3%

Shares of Nerdy stock opened at $0.90 on Friday. The company has a market cap of $171.29 million, a P/E ratio of -3.22 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. Nerdy Inc. has a one year low of $0.75 and a one year high of $1.74. The firm has a fifty day moving average of $0.87 and a two-hundred day moving average of $0.97.

Nerdy (NYSE:NRDY) last released its earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $48.73 million during the quarter, compared to analysts’ expectations of $47.33 million. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. On average, analysts forecast that Nerdy Inc. will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDY. Abel Hall LLC purchased a new position in shares of Nerdy in the 4th quarter valued at about $67,000. Wells Fargo & Company MN boosted 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 buying an additional 29,007 shares in the last quarter. Bank of America Corp DE grew its position 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 buying an additional 86,791 shares during the period. Jane Street Group LLC grew its position 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 buying an additional 17,768 shares during the period. Finally, Marshall Wace LLP purchased a new position in Nerdy in the second quarter valued at about $221,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Wall Street Analyst Weigh In

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