Insider Buying: Nerdy (NYSE:NRDY) CEO Purchases 186,930 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 186,930 shares of the stock in a transaction on Thursday, December 4th. The shares were purchased at an average price of $1.37 per share, for a total transaction of $256,094.10. Following the completion of the transaction, the chief executive officer owned 31,421,881 shares in the company, valued at approximately $43,047,976.97. This represents a 0.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Nerdy Trading Up 1.1%

NYSE:NRDY traded up $0.02 on Monday, hitting $1.34. 448,935 shares of the company’s stock traded hands, compared to its average volume of 733,975. The company has a market cap of $250.09 million, a PE ratio of -3.81 and a beta of 1.78. Nerdy Inc. has a 1 year low of $0.77 and a 1 year high of $2.18. The firm has a 50-day moving average price of $1.11 and a 200-day moving average price of $1.36.

Nerdy (NYSE:NRDY) last issued 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 during the quarter, compared to analyst estimates of $38.77 million. Nerdy had a negative net margin of 22.95% and a negative return on equity of 81.74%. On average, research analysts forecast that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NRDY shares. Wall Street Zen upgraded Nerdy from a “sell” rating to a “hold” rating in a report 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 dropped their target price 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 analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $1.25.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Nerdy by 41.9% in the 4th quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after buying an additional 17,889 shares in the last quarter. XTX Topco Ltd acquired a new stake in Nerdy in the 1st quarter valued at $188,000. Nuveen LLC bought a new stake in Nerdy in the first quarter valued at $508,000. AQR Capital Management LLC raised 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 worth $53,000 after acquiring an additional 15,234 shares in the last quarter. Finally, Strs Ohio acquired a new position in Nerdy during the first quarter worth $56,000. Institutional investors own 39.10% of the company’s stock.

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.