Nerdy (NYSE:NRDY) CEO Charles Cohn Acquires 184,491 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 184,491 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were bought at an average price of $1.33 per share, with a total value of $245,373.03. Following the acquisition, the chief executive officer directly owned 31,784,341 shares in the company, valued at $42,273,173.53. This represents a 0.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nerdy Stock Performance

Nerdy stock opened at $1.37 on Thursday. The company has a 50 day moving average price of $1.11 and a 200-day moving average price of $1.36. The company has a market capitalization of $255.71 million, a PE ratio of -3.90 and a beta of 1.78. Nerdy Inc. has a fifty-two week low of $0.77 and a fifty-two week high of $2.18.

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

Hedge Funds Weigh In On Nerdy

A number of institutional investors have recently bought and sold shares of NRDY. Voya Investment Management LLC purchased a new stake in shares of Nerdy in the 1st quarter valued at $30,000. AQR Capital Management LLC boosted its holdings in Nerdy by 67.9% in the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after purchasing an additional 15,234 shares during the last quarter. Strs Ohio acquired a new stake in Nerdy during the 1st quarter worth about $56,000. Bank of America Corp DE raised its stake in shares of 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 during the last quarter. Finally, Jane Street Group LLC boosted 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 buying an additional 17,768 shares during the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Nerdy Company Profile

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.