Insider Buying: Nerdy (NYSE:NRDY) CEO Buys $249,480.00 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 189,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were bought at an average cost of $1.32 per share, with a total value of $249,480.00. Following the purchase, the chief executive officer owned 1,080,412 shares of the company’s stock, valued at approximately $1,426,143.84. This trade represents a 21.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nerdy Stock Down 2.9%

Shares of NYSE NRDY opened at $1.32 on Friday. Nerdy Inc. has a 52 week low of $0.77 and a 52 week high of $2.18. The firm’s fifty day moving average is $1.11 and its 200 day moving average is $1.37. The company has a market cap of $247.28 million, a price-to-earnings ratio of -3.77 and a beta of 1.78.

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

Analysts Set New Price Targets

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

Institutional Trading of Nerdy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of Nerdy by 170.7% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after acquiring an additional 150,000 shares during the period. Bank of America Corp DE lifted its stake in shares of Nerdy by 236.2% in the 2nd 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 boosted its position in shares of Nerdy by 27.0% during 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of Nerdy during the second quarter valued at approximately $221,000. Finally, Franklin Resources Inc. grew its stake in 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 purchasing an additional 15,674 shares during the period. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

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.