Nerdy (NYSE:NRDY) Hits New 52-Week Low – Here’s Why

Nerdy Inc. (NYSE:NRDY) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.15 and last traded at $10.8960, with a volume of 7923 shares. The stock had previously closed at $9.8085.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research report on Friday, July 17th. Wall Street Zen cut Nerdy from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nerdy presently has an average rating of “Reduce” and an average target price of $15.00.

Nerdy Trading Up 6.5%

The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -41.80 and a beta of 1.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.70 and a quick ratio of 2.70. The company’s fifty day moving average price is $0.86 and its 200-day moving average price is $0.88.

Nerdy (NYSE:NRDY) last released its earnings results on Thursday, August 6th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.15. The company had revenue of $43.23 million during the quarter, compared to analysts’ expectations of $43.00 million. Nerdy had a negative net margin of 16.99% and a negative return on equity of 100.13%. On average, research analysts expect that Nerdy Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity

In related news, CEO Charles K. Cohn acquired 17,213 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $14.55 per share, for a total transaction of $250,449.15. Following the completion of the purchase, the chief executive officer owned 31,814 shares of the company’s stock, valued at approximately $462,893.70. This represents a 117.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 65,219 shares of company stock valued at $950,828 over the last three months. Company insiders own 50.99% of the company’s stock.

Hedge Funds Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Nerdy during the 4th quarter valued at about $25,000. Symmetry Peak Management LLC acquired a new position in shares of Nerdy in the fourth quarter valued at about $26,000. Engineers Gate Manager LP acquired a new position in Nerdy in the 4th quarter worth approximately $28,000. AQR Capital Management LLC raised 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 worth $53,000 after buying an additional 15,234 shares during the last quarter. Finally, Strs Ohio purchased a new position in Nerdy during the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors 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.