Nerdy (NYSE:NRDY) Stock Price Down 1.9% - Time to Sell?

Nerdy Inc. (NYSE:NRDY - Get Free Report)'s share price was down 1.9% during trading on Friday . The stock traded as low as $1.58 and last traded at $1.59. Approximately 325,103 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,579,003 shares. The stock had previously closed at $1.62.

Nerdy Stock Down 2.8%

The stock has a market capitalization of $283.71 million, a PE ratio of -3.89 and a beta of 1.88. The firm has a 50 day moving average price of $1.65 and a 200 day moving average price of $1.63.

Nerdy (NYSE:NRDY - Get Free Report) last issued its quarterly 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 return on equity of 69.06% and a negative net margin of 24.79%. The company had revenue of $47.60 million during the quarter, compared to the consensus estimate of $46.22 million. On average, equities analysts forecast that Nerdy Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Nerdy

In related news, 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 completion of the sale, the insider owned 1,594,670 shares of the company's stock, valued at approximately $2,567,418.70. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason H. Pello sold 29,530 shares of Nerdy stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $1.61, for a total value of $47,543.30. Following the sale, the chief financial officer directly owned 1,930,604 shares of the company's stock, valued at approximately $3,108,272.44. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,556 shares of company stock valued at $293,684 in the last three months. 50.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NRDY. GSA Capital Partners LLP purchased a new position in shares of Nerdy during the 1st quarter worth approximately $649,000. Nuveen LLC purchased a new position in shares of Nerdy during the 1st quarter worth approximately $508,000. Nuveen Asset Management LLC grew its holdings in shares of Nerdy by 99.5% during the 4th quarter. Nuveen Asset Management LLC now owns 410,523 shares of the company's stock worth $665,000 after acquiring an additional 204,760 shares during the period. Soviero Asset Management LP purchased a new stake in shares of Nerdy in the 4th quarter worth approximately $243,000. Finally, XTX Topco Ltd purchased a new stake in shares of Nerdy in the 1st quarter worth approximately $188,000. Hedge funds and other institutional investors own 39.10% of the company's stock.

Nerdy Company Profile

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.