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

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 184,491 shares of the company’s stock in a transaction on Monday, December 8th. The stock was purchased at an average cost of $1.33 per share, for a total transaction of $245,373.03. Following the completion of the transaction, the chief executive officer owned 31,784,341 shares in the company, valued at approximately $42,273,173.53. The trade was a 0.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Nerdy Price Performance

Nerdy stock opened at $1.41 on Wednesday. The stock has a market cap of $264.14 million, a PE ratio of -4.10 and a beta of 1.78. The stock’s fifty day moving average is $1.11 and its two-hundred day moving average is $1.36. Nerdy Inc. has a 1-year low of $0.77 and a 1-year high of $2.18.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, beating 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, research analysts expect that Nerdy Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on NRDY shares. Weiss Ratings reissued 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 report on Sunday, November 16th. Finally, 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. 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 price target of $1.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of Nerdy by 0.4% in the second quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock valued at $5,950,000 after purchasing an additional 15,674 shares during the period. Nuveen LLC purchased a new position in Nerdy in the 1st quarter valued at $508,000. Moneta Group Investment Advisors LLC increased its stake in Nerdy by 170.7% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after buying an additional 150,000 shares during the period. Marshall Wace LLP purchased a new position in Nerdy during the 2nd quarter worth $221,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nerdy in the 1st quarter worth $188,000. 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.