Nerdy Inc. (NYSE:NRDY) Short Interest Down 16.4% in March

Nerdy Inc. (NYSE:NRDY) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 7,225,234 shares, a decrease of 16.4% from the February 26th total of 8,639,510 shares. Based on an average trading volume of 1,001,674 shares, the short-interest ratio is currently 7.2 days. Currently, 7.9% of the company’s shares are sold short.

Nerdy Stock Performance

Shares of NRDY stock opened at $0.80 on Monday. The firm has a 50 day moving average of $0.95 and a 200-day moving average of $1.08. The company has a market cap of $151.45 million, a price-to-earnings ratio of -2.36 and a beta of 1.80. 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 has a 52 week low of $0.77 and a 52 week high of $1.90.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Nerdy had a negative return on equity of 95.27% and a negative net margin of 22.30%.The company had revenue of $49.11 million for the quarter, compared to the consensus estimate of $45.75 million. On average, equities analysts forecast that Nerdy will post -0.43 earnings per share for the current year.

Insider Activity at Nerdy

In other Nerdy news, insider Christopher C. Swenson sold 32,641 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $0.97, for a total transaction of $31,661.77. Following the completion of the transaction, the insider owned 2,022,742 shares in the company, valued at approximately $1,962,059.74. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason H. Pello sold 30,609 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $0.90, for a total transaction of $27,548.10. Following the completion of the transaction, the chief financial officer owned 2,540,626 shares in the company, valued at $2,286,563.40. This trade represents a 1.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 224,887 shares of company stock worth $211,700 over the last quarter. 51.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Nerdy during the fourth quarter valued at approximately $25,000. Symmetry Peak Management LLC acquired a new stake in Nerdy in the 4th quarter valued at $26,000. Engineers Gate Manager LP bought a new stake in Nerdy during the 4th quarter valued at $28,000. AQR Capital Management LLC raised its holdings in Nerdy by 67.9% during the first 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 last quarter. Finally, Strs Ohio bought a new position in shares of Nerdy in the first quarter valued at $56,000. Institutional investors own 39.10% of the company’s stock.

Analyst Ratings Changes

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

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.