Charles Cohn Purchases 181,672 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 181,672 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $1.31 per share, with a total value of $237,990.32. Following the purchase, the chief executive officer owned 31,234,951 shares of the company’s stock, valued at approximately $40,917,785.81. This trade represents a 0.59% 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. The firm’s fifty day moving average is $1.11 and its 200 day moving average is $1.37. Nerdy Inc. has a 52 week low of $0.77 and a 52 week high of $2.18. 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.

Analyst Upgrades and Downgrades

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

Institutional Trading of Nerdy

Several large investors have recently bought and sold shares of NRDY. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 15,674 shares in the last quarter. Nuveen LLC bought a new stake in shares of Nerdy during the first quarter valued at approximately $508,000. Moneta Group Investment Advisors LLC grew its stake in Nerdy by 170.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after purchasing an additional 150,000 shares during the period. Marshall Wace LLP purchased a new stake in Nerdy in the second quarter worth $221,000. Finally, XTX Topco Ltd bought a new position in Nerdy in the first quarter worth $188,000. 39.10% of the stock is owned by 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.