Charles Cohn Buys 250,007 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 250,007 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average price of $1.00 per share, for a total transaction of $250,007.00. Following the completion of the transaction, the chief executive officer directly owned 978,311 shares of the company’s stock, valued at $978,311. This trade represents a 34.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nerdy Price Performance

Shares of NYSE:NRDY opened at $0.94 on Tuesday. The firm has a market capitalization of $177.94 million, a price-to-earnings ratio of -3.34 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.41 and a quick ratio of 2.41. The business’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $0.98. Nerdy Inc. has a 12 month low of $0.75 and a 12 month high of $1.74.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) 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. As a group, equities analysts forecast that Nerdy Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Nerdy in the fourth quarter worth approximately $25,000. Symmetry Peak Management LLC purchased a new stake in shares of Nerdy during the 4th quarter worth about $26,000. Engineers Gate Manager LP purchased a new stake in shares of Nerdy during the 4th quarter worth about $28,000. AQR Capital Management LLC increased its position in Nerdy by 67.9% during 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. Finally, Strs Ohio acquired a new stake in Nerdy during the 1st quarter worth approximately $56,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target 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.