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

Nerdy Inc. (NYSE:NRDY) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 7,225,234 shares, a drop of 16.4% from the February 26th total of 8,639,510 shares. Currently, 7.9% of the company’s shares are sold short. Based on an average trading volume of 1,001,674 shares, the days-to-cover ratio is presently 7.2 days.

Nerdy Trading Up 1.2%

NYSE:NRDY traded up $0.01 during trading hours on Tuesday, reaching $0.82. 610,419 shares of the stock were exchanged, compared to its average volume of 780,086. Nerdy has a twelve month low of $0.77 and a twelve month high of $1.90. The business has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.07. The company has a market capitalization of $153.71 million, a price-to-earnings ratio of -2.40 and a beta of 1.80. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.67.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $1.00.

Insiders Place Their Bets

In related news, insider Christopher C. Swenson sold 32,641 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $0.97, for a total value of $31,661.77. Following the sale, the insider directly owned 2,022,742 shares in the company, valued at approximately $1,962,059.74. The trade was a 1.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason H. Pello sold 30,609 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $0.90, for a total transaction of $27,548.10. Following the completion of the sale, the chief financial officer owned 2,540,626 shares in the company, valued at approximately $2,286,563.40. This trade represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 224,887 shares of company stock worth $211,700 in the last 90 days. Company insiders own 51.54% of the company’s stock.

Institutional Trading of Nerdy

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of Nerdy by 0.4% in the second 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 period. Geode Capital Management LLC increased its stake in 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. Bridgeway Capital Management LLC lifted its holdings in Nerdy by 62.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after buying an additional 102,400 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Nerdy by 170.7% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after buying an additional 150,000 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Nerdy in the 2nd quarter valued at approximately $221,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Company Profile

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.