Short Interest in Nerdy Inc. (NYSE:NRDY) Decreases By 92.9%

Nerdy Inc. (NYSE:NRDY) saw a significant 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. Based on an average daily trading volume, of 36,454 shares, the days-to-cover ratio is presently 9.9 days. Currently, 5.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Insider Transactions at Nerdy

In other Nerdy news, CEO Charles Cohn purchased 16,738 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $251,070.00. Following the transaction, the chief executive officer owned 48,553 shares in the company, valued at $728,295. The trade was a 52.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 50.99% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NRDY. Bank of America Corp DE lifted its stake 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 buying an additional 17,889 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Nerdy by 67.9% during the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after acquiring an additional 15,234 shares in the last quarter. Strs Ohio bought a new stake in shares of Nerdy during the first quarter worth about $56,000. Marshall Wace LLP acquired a new stake in shares of Nerdy in the 2nd quarter worth about $221,000. Finally, Jane Street Group LLC raised its holdings in shares of Nerdy by 27.0% in the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after acquiring an additional 17,768 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

Nerdy Stock Up 3.9%

Shares of NYSE NRDY traded up $0.34 during midday trading on Thursday, hitting $9.04. 41,933 shares of the stock traded hands, compared to its average volume of 31,781. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.70 and a current ratio of 2.70. Nerdy has a one year low of $8.55 and a one year high of $22.35. The business has a 50 day moving average price of $11.56 and a two-hundred day moving average price of $12.58. The company has a market cap of $115.53 million, a PE ratio of -2.41 and a beta of 1.71.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.71. Nerdy had a negative return on equity of 100.13% and a negative net margin of 16.99%.The company had revenue of $43.23 million for the quarter, compared to analysts’ expectations of $43.00 million. On average, equities analysts predict that Nerdy will post -2.55 EPS for the current year.

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.