Charles Cohn Buys 176,215 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 176,215 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $1.44 per share, for a total transaction of $253,749.60. Following the transaction, the chief executive officer owned 31,960,556 shares of the company’s stock, valued at $46,023,200.64. This represents a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nerdy Price Performance

Nerdy stock traded up $0.07 during trading hours on Thursday, reaching $1.42. The stock had a trading volume of 595,303 shares, compared to its average volume of 752,289. The company has a market cap of $265.07 million, a price-to-earnings ratio of -4.04 and a beta of 1.78. The business’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.36. Nerdy Inc. has a 52 week low of $0.77 and a 52 week high of $2.18.

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

Hedge Funds Weigh In On Nerdy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC purchased a new stake in shares of Nerdy in the first quarter worth about $30,000. AQR Capital Management LLC boosted its position in Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after purchasing an additional 15,234 shares in the last quarter. Strs Ohio purchased a new stake in Nerdy in the 1st quarter worth approximately $56,000. Bank of America Corp DE grew its stake 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 worth $98,000 after purchasing an additional 17,889 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Nerdy by 27.0% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald decreased their price target on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.