Charles Cohn Purchases 189,000 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 189,000 shares of the stock in a transaction dated Monday, December 1st. The shares were purchased at an average cost of $1.32 per share, for a total transaction of $249,480.00. Following the completion of the acquisition, the chief executive officer directly owned 1,080,412 shares in the company, valued at approximately $1,426,143.84. This trade represents a 21.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nerdy Price Performance

Shares of NRDY traded up $0.09 during trading hours on Wednesday, hitting $1.29. The stock had a trading volume of 628,234 shares, compared to its average volume of 722,867. The firm has a market capitalization of $240.72 million, a PE ratio of -3.70 and a beta of 1.78. Nerdy Inc. has a 12 month low of $0.77 and a 12 month high of $2.18. The stock has a fifty day moving average price of $1.11 and a 200 day moving average price of $1.37.

Nerdy (NYSE:NRDY) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.06. The company had revenue of $37.02 million for the quarter, compared to the consensus estimate of $38.77 million. Nerdy had a negative return on equity of 81.74% and a negative net margin of 22.95%. As a group, analysts anticipate that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently modified their holdings of NRDY. AQR Capital Management LLC grew its stake in Nerdy by 67.9% during the first 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. Franklin Resources Inc. lifted its position 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 worth $5,950,000 after buying an additional 15,674 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nerdy by 8.0% during the first quarter. Bank of New York Mellon Corp now owns 223,757 shares of the company’s stock valued at $318,000 after buying an additional 16,613 shares during the last quarter. Jane Street Group LLC grew its holdings in Nerdy by 27.0% during the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after buying an additional 17,768 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Nerdy by 41.9% during the 4th 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. Institutional investors own 39.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NRDY has been the subject of a number of analyst reports. Wall Street Zen raised shares of Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald decreased their price target on Nerdy from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Nerdy has an average rating of “Reduce” and an average target price of $1.25.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.