Christopher Swenson, an insider at Nerdy Inc. (NYSE: NRDY), sold 35,000 shares of the company’s stock on December 22, 2023. The shares were sold at an average price of $1.33, totaling $46,550. Following this transaction, Swenson holds 1,455,383 shares in Nerdy, valued at approximately $1,935,659.39. This sale represents a 2.35% reduction in his ownership stake.
Nerdy Stock Performance and Market Context
On the same day as the sale, shares of Nerdy traded down 4.0%, closing at $1.08. The trading volume reached 1,276,419 shares, significantly higher than the average volume of 808,785 shares. Over the past fifty-two weeks, Nerdy’s stock has fluctuated between a low of $0.77 and a high of $2.02. Currently, the company has a market capitalization of approximately $201.38 million, with a price-to-earnings (P/E) ratio of -3.07 and a beta of 1.78.
In its most recent earnings report, released on November 6, 2023, Nerdy reported earnings per share (EPS) of ($0.10), surpassing analyst expectations of ($0.16) by $0.06. The company posted revenue of $37.02 million, slightly below the forecasted $38.77 million. Nerdy has a negative net margin of 22.95% and a negative return on equity of 81.74%. Analysts anticipate that Nerdy will report an EPS of ($0.43) for the current fiscal year.
Analyst Ratings and Future Outlook
Recent analyst reports reflect varied opinions on Nerdy’s stock performance. Weiss Ratings maintained a “sell (e+)” rating on October 8, 2023, while Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on November 16, 2023. Cantor Fitzgerald lowered its price target from $1.50 to $1.00, assigning a “neutral” rating in a report dated November 7, 2023. Currently, two analysts have issued a “hold” rating, and one has rated the stock as a “sell.” According to MarketBeat, Nerdy holds an average rating of “Reduce” with a consensus target price of $1.25.
Founded in 2007 by entrepreneur Chuck Cohn, Nerdy operates a live online learning marketplace, primarily through its flagship platform, Varsity Tutors. The platform connects students and learners with a vast network of educators for personalized tutoring, group classes, and test preparation. It employs proprietary algorithms to match users with instructors based on subject expertise and learning needs.
As Nerdy continues to navigate the competitive landscape of education technology, stakeholders will be closely monitoring stock performance and financial metrics to assess future growth potential.
