Nerdy Inc. (NYSE:NRDY) Short Interest Update

Nerdy Inc. (NYSE:NRDY) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 359,465 shares, a decrease of 92.9% from the August 15th total of 5,065,825 shares. Approximately 5.7% of the shares of the company are sold short. Based on an average trading volume of 36,454 shares, the days-to-cover ratio is currently 9.9 days.

Insider Transactions at Nerdy

In other news, CEO Charles Cohn acquired 16,667 shares of Nerdy stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $15.00 per share, for a total transaction of $250,005.00. Following the completion of the acquisition, the chief executive officer directly owned 65,220 shares in the company, valued at approximately $978,300. The trade was a 34.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 50.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nerdy

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after acquiring an additional 15,234 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Nerdy by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company’s stock worth $1,620,000 after purchasing an additional 17,325 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Nerdy by 27.0% in the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after purchasing an additional 17,768 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 17,889 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Nerdy during the fourth quarter valued at approximately $25,000. 39.10% of the stock is currently owned by institutional investors.

Nerdy Trading Up 3.2%

Nerdy stock traded up $0.29 during mid-day trading on Friday, hitting $9.39. 21,945 shares of the stock were exchanged, compared to its average volume of 43,036. The stock has a market capitalization of $120.07 million, a price-to-earnings ratio of -2.51 and a beta of 1.71. Nerdy has a 12 month low of $8.55 and a 12 month high of $22.35. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.75. The firm’s fifty day simple moving average is $11.56 and its two-hundred day simple moving average is $12.58.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.71. 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%. Analysts forecast that Nerdy will post -2.55 EPS for the current year.

Analyst Ratings Changes

NRDY has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research note on Friday, July 17th. Wall Street Zen lowered shares of Nerdy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $15.00.

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.