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

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 180,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was bought at an average price of $1.38 per share, for a total transaction of $248,400.00. Following the purchase, the chief executive officer directly owned 32,315,503 shares of the company’s stock, valued at $44,595,394.14. The trade was a 0.56% 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 $1.21 on Wednesday. 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 $225.73 million, a price-to-earnings ratio of -3.44 and a beta of 1.78. The firm has a 50-day simple moving average of $1.12 and a two-hundred day simple moving average of $1.35.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data 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 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NRDY shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. 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. Finally, Wall Street Zen upgraded Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nerdy presently has an average rating of “Reduce” and a consensus price target of $1.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its holdings in Nerdy by 67.9% during the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock worth $53,000 after acquiring an additional 15,234 shares during the period. Franklin Resources Inc. lifted its stake in shares of 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 purchasing an additional 15,674 shares during the period. Jane Street Group LLC boosted its holdings in Nerdy by 27.0% during the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after buying an additional 17,768 shares in the last quarter. Bank of America Corp DE grew its position in Nerdy by 41.9% during the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after buying an additional 17,889 shares during the period. Finally, Voya Investment Management LLC purchased a new position in shares of Nerdy in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

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.