Nerdy (NYSE:NRDY) Shares Down 1.9% - Should You Sell?

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

Nerdy Trading Down 1.9%

The stock's 50-day moving average is $1.65 and its 200-day moving average is $1.64. The stock has a market cap of $290.10 million, a price-to-earnings ratio of -3.98 and a beta of 1.88.

Nerdy (NYSE:NRDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping 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 firm had revenue of $47.60 million during the quarter, compared to analysts' expectations of $46.22 million. On average, equities analysts predict that Nerdy Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Nerdy

In other news, insider Christopher C. Swenson sold 17,718 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $1.61, for a total transaction of $28,525.98. Following the transaction, the insider directly owned 1,594,670 shares of the company's stock, valued at approximately $2,567,418.70. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jason H. Pello sold 29,530 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $1.61, for a total transaction 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. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,556 shares of company stock valued at $293,684. Insiders own 50.94% of the company's stock.

Hedge Funds Weigh In On Nerdy

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.