Christopher Swenson Sells 35,000 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) insider Christopher Swenson sold 35,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $1.33, for a total value of $46,550.00. Following the completion of the sale, the insider owned 1,455,383 shares in the company, valued at approximately $1,935,659.39. The trade was a 2.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nerdy Trading Down 0.5%

Shares of NRDY opened at $1.07 on Wednesday. The firm has a fifty day moving average price of $1.12 and a 200-day moving average price of $1.31. The firm has a market capitalization of $199.51 million, a P/E ratio of -3.04 and a beta of 1.78. Nerdy Inc. has a 12-month low of $0.77 and a 12-month high of $2.02.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.06. The company had revenue of $37.02 million for the quarter, compared to the consensus estimate of $38.77 million. Nerdy had a negative net margin of 22.95% and a negative return on equity of 81.74%. Analysts predict that Nerdy Inc. will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in NRDY. Voya Investment Management LLC bought a new stake in Nerdy during the first quarter valued at about $30,000. AQR Capital Management LLC lifted its position in shares of Nerdy by 67.9% during the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after buying an additional 15,234 shares during the last quarter. Strs Ohio purchased a new stake in shares of Nerdy during the first quarter valued at about $56,000. Bank of America Corp DE boosted its holdings in shares of Nerdy by 41.9% in the 4th quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after buying an additional 17,889 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Nerdy by 27.0% in the 2nd 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 last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Cantor Fitzgerald dropped their price objective on Nerdy from $1.50 to $1.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Nerdy from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nerdy has an average rating of “Reduce” and an average target price of $1.25.

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.