Insider Buying: Nerdy (NYSE:NRDY) CEO Acquires 181,672 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 181,672 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average price of $1.31 per share, for a total transaction of $237,990.32. Following the purchase, the chief executive officer directly owned 31,234,951 shares of the company’s stock, valued at $40,917,785.81. The trade was a 0.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Nerdy Stock Performance

NRDY stock opened at $1.35 on Friday. The firm has a 50-day simple moving average of $1.11 and a two-hundred day simple moving average of $1.37. Nerdy Inc. has a one year low of $0.77 and a one year high of $2.18. The firm has a market cap of $252.90 million, a price-to-earnings ratio of -3.86 and a beta of 1.78.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NRDY. Cantor Fitzgerald cut their price objective 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $1.25.

Institutional Investors Weigh In On Nerdy

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Nerdy by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after buying an additional 15,234 shares during the last quarter. Franklin Resources Inc. grew its holdings in Nerdy by 0.4% during the second quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock worth $5,950,000 after acquiring an additional 15,674 shares during the period. Jane Street Group LLC raised 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 acquiring an additional 17,768 shares in the last quarter. Bank of America Corp DE lifted its holdings in Nerdy by 41.9% in the fourth 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 period. Finally, Voya Investment Management LLC purchased a new stake in Nerdy in the 1st quarter worth approximately $30,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

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.