Charles Cohn Acquires 258,204 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 258,204 shares of Nerdy stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $0.97 per share, with a total value of $250,457.88. Following the completion of the acquisition, the chief executive officer owned 477,223 shares of the company’s stock, valued at $462,906.31. This represents a 117.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nerdy Stock Performance

NYSE NRDY opened at $0.96 on Friday. The company has a market capitalization of $182.13 million, a PE ratio of -3.42 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. Nerdy Inc. has a 52-week low of $0.75 and a 52-week high of $1.78. The company has a 50-day simple moving average of $0.86 and a 200 day simple moving average of $0.98.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Nerdy had a negative return on equity of 93.27% and a negative net margin of 18.60%.The firm had revenue of $48.74 million for the quarter, compared to analyst estimates of $47.33 million. On average, research analysts predict that Nerdy Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Nerdy

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Nerdy by 41.9% during the 4th quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after acquiring an additional 17,889 shares during the last quarter. AQR Capital Management LLC raised its stake in Nerdy by 67.9% in the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after purchasing an additional 15,234 shares in the last quarter. Strs Ohio purchased a new stake in Nerdy in the first quarter valued at approximately $56,000. Marshall Wace LLP bought a new stake in Nerdy during the second quarter valued at approximately $221,000. Finally, Jane Street Group LLC lifted its position in 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 during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $1.00.

About Nerdy

Nerdy, Inc (NYSE:NRDY) is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.