Nerdy (NYSE:NRDY) CEO Purchases $236,743.36 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 174,076 shares of the stock in a transaction on Monday, December 15th. The shares were bought at an average price of $1.36 per share, with a total value of $236,743.36. Following the acquisition, the chief executive officer owned 32,669,932 shares of the company’s stock, valued at $44,431,107.52. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Nerdy Trading Up 6.3%

Shares of NRDY traded up $0.08 during trading hours on Wednesday, hitting $1.28. The company had a trading volume of 339,180 shares, compared to its average volume of 770,265. The company has a market capitalization of $238.85 million, a PE ratio of -3.64 and a beta of 1.78. Nerdy Inc. has a one year low of $0.77 and a one year high of $2.02. The company’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $1.35.

Nerdy (NYSE:NRDY) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.06. The company had revenue of $37.02 million for the quarter, compared to analyst estimates of $38.77 million. Nerdy had a negative return on equity of 81.74% and a negative net margin of 22.95%. Analysts forecast that Nerdy Inc. will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in Nerdy by 41.9% during the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after purchasing an additional 17,889 shares during the last quarter. Nuveen LLC acquired a new position in Nerdy in the first quarter valued at approximately $508,000. AQR Capital Management LLC grew its position in Nerdy by 67.9% in 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 during the period. Strs Ohio purchased a new stake in Nerdy in the first quarter valued at $56,000. Finally, Voya Investment Management LLC purchased a new position in Nerdy during the first quarter worth about $30,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald lowered their price target 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $1.25.

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.