Short Interest in Nerdy Inc. (NYSE:NRDY) Drops By 16.4%

Nerdy Inc. (NYSE:NRDY) was the recipient of a significant decline in short interest in March. As of March 13th, there was short interest totaling 7,225,234 shares, a decline of 16.4% from the February 26th total of 8,639,510 shares. Approximately 7.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,001,674 shares, the short-interest ratio is presently 7.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $1.00.

Insider Activity

In other news, CFO Jason H. Pello sold 30,609 shares of Nerdy stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $0.90, for a total value of $27,548.10. Following the completion of the transaction, the chief financial officer owned 2,540,626 shares in the company, valued at approximately $2,286,563.40. The trade was a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher C. Swenson sold 32,641 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $0.97, for a total value of $31,661.77. Following the completion of the transaction, the insider directly owned 2,022,742 shares in the company, valued at $1,962,059.74. The trade was a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 224,887 shares of company stock worth $211,700 over the last ninety days. Insiders own 51.54% of the company’s stock.

Institutional Trading of Nerdy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Nerdy by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after purchasing an additional 15,234 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Nerdy by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock valued at $5,950,000 after purchasing an additional 15,674 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Nerdy by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company’s stock worth $1,620,000 after buying an additional 17,325 shares during the period. 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 worth $136,000 after buying an additional 17,768 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after buying an additional 17,889 shares during the period. 39.10% of the stock is currently owned by institutional investors and hedge funds.

Nerdy Price Performance

Shares of Nerdy stock traded down $0.01 during midday trading on Wednesday, reaching $0.81. The company had a trading volume of 285,175 shares, compared to its average volume of 771,940. 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 stock has a fifty day simple moving average of $0.94 and a 200 day simple moving average of $1.07. Nerdy has a 1-year low of $0.77 and a 1-year high of $1.90. The company has a market capitalization of $152.20 million, a price-to-earnings ratio of -2.37 and a beta of 1.80.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The firm had revenue of $49.11 million during the quarter, compared to the consensus estimate of $45.75 million. Nerdy had a negative net margin of 22.30% and a negative return on equity of 95.27%. As a group, equities research analysts forecast that Nerdy will post -0.43 earnings per share for the current year.

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.