Insider Buying: Nerdy (NYSE:NRDY) CEO Purchases 197,242 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 197,242 shares of the stock in a transaction on Tuesday, December 16th. The stock was acquired at an average price of $1.22 per share, with a total value of $240,635.24. Following the completion of the acquisition, the chief executive officer owned 32,867,174 shares of the company’s stock, valued at $40,097,952.28. This represents a 0.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nerdy Stock Performance

Shares of Nerdy stock traded up $0.03 on Thursday, reaching $1.17. 491,264 shares of the company’s stock were exchanged, compared to its average volume of 775,797. The company has a market capitalization of $218.24 million, a P/E ratio of -3.30 and a beta of 1.78. Nerdy Inc. has a 52 week low of $0.77 and a 52 week high of $2.02. The firm’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.35.

Nerdy (NYSE:NRDY) last released its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) 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 net margin of 22.95% and a negative return on equity of 81.74%. On average, analysts expect that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NRDY. Moneta Group Investment Advisors LLC lifted its holdings in Nerdy by 170.7% during the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after purchasing an additional 150,000 shares during the last quarter. Bank of America Corp DE raised its position in shares of Nerdy by 236.2% in the second quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock valued at $201,000 after purchasing an additional 86,791 shares during the period. Jane Street Group LLC raised its position 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 valued at $136,000 after purchasing an additional 17,768 shares during the period. Marshall Wace LLP purchased a new stake in shares of Nerdy during the 2nd quarter valued at approximately $221,000. Finally, Franklin Resources Inc. boosted its holdings in Nerdy by 0.4% in the 2nd 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 during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NRDY. Wall Street Zen upgraded shares of Nerdy from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Cantor Fitzgerald decreased their target price on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target 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.