Insider Buying: Nerdy (NYSE:NRDY) CEO Acquires $251,081.00 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 251,081 shares of the stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $1.00 per share, with a total value of $251,081.00. Following the completion of the purchase, the chief executive officer directly owned 728,304 shares of the company’s stock, valued at $728,304. The trade was a 52.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Nerdy Stock Performance

Nerdy stock opened at $0.90 on Thursday. The firm has a fifty day simple moving average of $0.87 and a two-hundred day simple moving average of $0.97. Nerdy Inc. has a twelve month low of $0.75 and a twelve month high of $1.74. The company has a market capitalization of $170.53 million, a PE ratio of -3.20 and a beta of 1.76. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.67.

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

Hedge Funds Weigh In On Nerdy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC boosted its stake in Nerdy by 62.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after acquiring an additional 102,400 shares in the last quarter. Marshall Wace LLP bought a new stake in Nerdy during the second quarter worth about $221,000. Bank of America Corp DE boosted its stake in Nerdy by 236.2% during the second quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after acquiring an additional 86,791 shares in the last quarter. Jane Street Group LLC boosted its stake in Nerdy by 27.0% during the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after acquiring an additional 17,768 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Nerdy by 80.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock worth $68,000 after acquiring an additional 29,007 shares in the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nerdy currently has an average 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.