Christopher Swenson Sells 69,796 Shares of Nerdy (NYSE:NRDY) Stock

Key Points

• Christopher Swenson, an insider at Nerdy, sold 69,796 shares on April 16 at an average price of $0.93 to cover tax withholding, reducing his stake by 3.48% to 1,934,580 shares as disclosed in an SEC filing.
• Nerdy shares traded at $0.93 (52-week range $0.75–$1.90) with a market cap of about $175M; the company reported Q4 EPS of ($0.08) that missed estimates while revenue of $49.11M beat consensus, and it continues to show negative margins and ROE.
• Analyst sentiment is weak — Weiss Ratings reiterated a "sell (e+)" and the MarketBeat consensus is "Reduce" with a $1.00 target — while institutional investors own roughly 39% and several funds have recently adjusted positions.

Nerdy Inc. (NYSE:NRDY - Get Free Report) insider Christopher Swenson sold 69,796 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $0.93, for a total value of $64,910.28. Following the completion of the transaction, the insider owned 1,934,580 shares of the company's stock, valued at $1,799,159.40. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nerdy Stock Down 1.2%

Shares of NRDY stock traded down $0.01 during trading hours on Monday, hitting $0.93. 839,681 shares of the company were exchanged, compared to its average volume of 724,793. Nerdy Inc. has a 52 week low of $0.75 and a 52 week high of $1.90. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average of $0.90 and a two-hundred day moving average of $1.03. The company has a market capitalization of $175.21 million, a PE ratio of -2.73 and a beta of 1.84.

Nerdy (NYSE:NRDY - Get Free Report) last released its quarterly 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). The firm had revenue of $49.11 million during the quarter, compared to analyst estimates of $45.75 million. Nerdy had a negative net margin of 22.30% and a negative return on equity of 95.27%. Analysts anticipate that Nerdy Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Nerdy in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $1.00.

Hedge Funds Weigh In On Nerdy

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Nerdy by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company's stock valued at $1,620,000 after purchasing an additional 17,325 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Nerdy by 62.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company's stock valued at $276,000 after purchasing an additional 102,400 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Nerdy by 170.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company's stock valued at $300,000 after purchasing an additional 150,000 shares during the period. Marshall Wace LLP bought a new position in shares of Nerdy in the second quarter valued at about $221,000. Finally, Bank of America Corp DE raised its position in shares of Nerdy by 236.2% in the second quarter. Bank of America Corp DE now owns 123,534 shares of the company's stock valued at $201,000 after purchasing an additional 86,791 shares during the period. 39.10% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.