Charles Cohn Purchases 180,000 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 180,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was bought at an average price of $1.38 per share, with a total value of $248,400.00. Following the acquisition, the chief executive officer directly owned 32,315,503 shares in the company, valued at approximately $44,595,394.14. This represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Stock Performance

NRDY traded up $0.03 on Monday, hitting $1.38. 423,213 shares of the company were exchanged, compared to its average volume of 764,400. Nerdy Inc. has a fifty-two week low of $0.77 and a fifty-two week high of $2.18. The firm has a market capitalization of $257.58 million, a P/E ratio of -3.93 and a beta of 1.78. The business’s fifty day moving average is $1.12 and its 200 day moving average is $1.36.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (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 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%. Analysts forecast that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NRDY has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. Cantor Fitzgerald lowered their price objective on shares of Nerdy from $1.50 to $1.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Nerdy from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $1.25.

Institutional Investors Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently made changes to their positions in NRDY. Franklin Resources Inc. grew its holdings in Nerdy by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock valued at $5,950,000 after buying an additional 15,674 shares during the period. Nuveen LLC acquired a new stake in shares of Nerdy in the first quarter worth approximately $508,000. Moneta Group Investment Advisors LLC grew its holdings in Nerdy by 170.7% in the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after purchasing an additional 150,000 shares during the period. Marshall Wace LLP acquired a new position in Nerdy during the second quarter worth approximately $221,000. Finally, Bank of America Corp DE raised 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 purchasing an additional 86,791 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

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.