Nerdy (NYSE:NRDY) Trading Down 0.6% - What's Next?

Key Points

• Nerdy shares slipped 0.6% to around $0.905 on Thursday, with trading volume well below average.
• Analyst sentiment remains cautious: Weiss Ratings reiterated a "sell (e+)" rating, and MarketBeat data shows a consensus "Reduce" rating with a $1.00 price target.
• The company recently reported quarterly earnings of -$0.03 per share, beating expectations, while revenue of $48.73 million also came in above estimates.

Nerdy Inc. (NYSE:NRDY - Get Free Report) fell 0.6% during trading on Thursday . The company traded as low as $0.89 and last traded at $0.9050. 216,427 shares traded hands during trading, a decline of 81% from the average daily volume of 1,126,620 shares. The stock had previously closed at $0.9108.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Nerdy in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $1.00.

Nerdy Trading Down 0.6%

The company's 50-day moving average is $0.87 and its 200-day moving average is $0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $172.05 million, a price-to-earnings ratio of -3.23 and a beta of 1.73.

Nerdy (NYSE:NRDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. The firm had revenue of $48.73 million during the quarter, compared to analysts' expectations of $47.33 million. On average, research analysts predict that Nerdy Inc. will post -0.18 earnings per share for the current year.

Insider Activity at Nerdy

In other Nerdy news, COO John Andrew Paszterko sold 31,788 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $0.93, for a total value of $29,562.84. Following the transaction, the chief operating officer directly owned 1,149,755 shares in the company, valued at approximately $1,069,272.15. This trade represents a 2.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher C. Swenson sold 69,796 shares of Nerdy stock in a transaction 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 sale, the insider directly owned 1,934,580 shares of the company's stock, valued at $1,799,159.40. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders purchased 978,311 shares of company stock valued at $950,853 and sold 121,737 shares valued at $112,208. 51.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nerdy

Several large investors have recently made changes to their positions in NRDY. Virtu Financial LLC bought a new position in Nerdy in the fourth quarter valued at about $25,000. Symmetry Peak Management LLC bought a new stake in Nerdy during the 4th quarter worth about $26,000. Engineers Gate Manager LP acquired a new position in Nerdy during the 4th quarter valued at about $28,000. AQR Capital Management LLC lifted its position in Nerdy by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company's stock valued at $53,000 after purchasing an additional 15,234 shares during the period. Finally, Strs Ohio bought a new position in shares of Nerdy in the 1st quarter valued at about $56,000. Institutional investors and hedge funds own 39.10% of the company's stock.

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.

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