Christopher C. Swenson Sells 17,718 Shares of Nerdy Inc. (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY - Get Free Report) insider Christopher C. Swenson sold 17,718 shares of Nerdy stock in a transaction on Monday, June 16th. The stock was sold at an average price of $1.61, for a total transaction of $28,525.98. Following the sale, the insider now owns 1,594,670 shares in the company, valued at $2,567,418.70. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nerdy Stock Up 0.9%

NYSE:NRDY traded up $0.02 during trading hours on Wednesday, reaching $1.62. 335,360 shares of the company's stock were exchanged, compared to its average volume of 1,606,932. Nerdy Inc. has a 1-year low of $0.73 and a 1-year high of $2.18. The firm has a market capitalization of $294.66 million, a price-to-earnings ratio of -4.04 and a beta of 1.92. The company has a 50-day moving average of $1.62 and a 200 day moving average of $1.64.

Nerdy (NYSE:NRDY - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.05. Nerdy had a negative net margin of 24.79% and a negative return on equity of 69.06%. The business had revenue of $47.60 million during the quarter, compared to analysts' expectations of $46.22 million. Research analysts forecast that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price objective on Nerdy from $1.00 to $1.50 and gave the stock a "neutral" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.31.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd purchased a new position in shares of Nerdy in the 4th quarter valued at approximately $26,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Nerdy during the first quarter worth approximately $26,000. Voya Investment Management LLC acquired a new stake in shares of Nerdy during the first quarter worth $30,000. ProShare Advisors LLC lifted its holdings in shares of Nerdy by 55.2% during the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company's stock worth $35,000 after purchasing an additional 7,594 shares during the period. Finally, Virtu Financial LLC grew its position in Nerdy by 59.1% in the 4th quarter. Virtu Financial LLC now owns 23,294 shares of the company's stock valued at $38,000 after buying an additional 8,655 shares during the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.

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