Charles Cohn Buys 180,353 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 180,353 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were purchased at an average cost of $1.38 per share, for a total transaction of $248,887.14. Following the completion of the purchase, the chief executive officer directly owned 32,495,856 shares in the company, valued at $44,844,281.28. The trade was a 0.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Nerdy Price Performance

NYSE:NRDY opened at $1.14 on Thursday. The firm has a market cap of $213.18 million, a PE ratio of -3.25 and a beta of 1.78. The firm has a 50 day simple moving average of $1.11 and a 200-day simple moving average of $1.35. Nerdy Inc. has a 1-year low of $0.77 and a 1-year high of $2.02.

Nerdy (NYSE:NRDY) last announced its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.06. The firm had revenue of $37.02 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that Nerdy Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NRDY. Franklin Resources Inc. boosted its holdings in Nerdy by 0.4% in the second quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock valued at $5,950,000 after acquiring an additional 15,674 shares during the last quarter. Nuveen LLC purchased a new position in shares of Nerdy in the 1st quarter worth about $508,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Nerdy by 170.7% in the 3rd 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 in the last quarter. Marshall Wace LLP acquired a new position in shares of Nerdy in the 2nd quarter valued at about $221,000. Finally, Bank of America Corp DE grew its holdings in shares of Nerdy by 236.2% during the 2nd 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. 39.10% of the stock is owned by hedge funds and other institutional investors.

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.