Nerdy (NYSE:NRDY) Trading Down 3% – Should You Sell?

Nerdy Inc. (NYSE:NRDY)’s share price traded down 3% during mid-day trading on Wednesday . The company traded as low as $0.7807 and last traded at $0.7860. 389,792 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 387,303 shares. The stock had previously closed at $0.81.

Wall Street Analysts Forecast Growth

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

Nerdy Trading Down 1.7%

The company has a market cap of $155.13 million, a PE ratio of -2.91 and a beta of 1.76. The business has a 50 day simple moving average of $0.86 and a two-hundred day simple moving average of $0.98. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.67.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $48.74 million during the quarter, compared to analysts’ expectations of $47.33 million. Nerdy had a negative return on equity of 93.27% and a negative net margin of 18.60%. On average, analysts forecast that Nerdy Inc. will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nerdy news, COO John Andrew Paszterko sold 31,788 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $0.93, for a total transaction of $29,562.84. Following the completion of the sale, the chief operating officer directly owned 1,149,755 shares in the company, valued at $1,069,272.15. This represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jason H. Pello sold 30,609 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $0.90, for a total value of $27,548.10. Following the sale, the chief financial officer owned 2,540,626 shares of the company’s stock, valued at $2,286,563.40. This represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 225,559 shares of company stock worth $207,551 over the last three months. 51.54% of the stock is owned by insiders.

Institutional Trading of Nerdy

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in Nerdy by 41.9% in the 4th quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after purchasing an additional 17,889 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after acquiring an additional 15,234 shares during the period. Strs Ohio acquired a new stake in Nerdy in the first quarter valued at approximately $56,000. Marshall Wace LLP acquired a new stake in Nerdy in the second quarter valued at approximately $221,000. Finally, Jane Street Group LLC raised its stake in shares of Nerdy by 27.0% during the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after purchasing an additional 17,768 shares during the period. 39.10% of the stock is owned by hedge funds and other 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.