Charles Cohn Acquires 177,969 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 177,969 shares of the stock in a transaction on Friday, December 5th. The stock was acquired at an average price of $1.40 per share, with a total value of $249,156.60. Following the completion of the acquisition, the chief executive officer owned 31,599,850 shares of the company’s stock, valued at $44,239,790. This represents a 0.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nerdy Stock Performance

Nerdy stock opened at $1.37 on Thursday. The stock has a market capitalization of $255.71 million, a price-to-earnings ratio of -3.90 and a beta of 1.78. Nerdy Inc. has a 52-week low of $0.77 and a 52-week high of $2.18. The stock’s 50 day moving average price is $1.11 and its two-hundred day moving average price is $1.36.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. Nerdy had a negative net margin of 22.95% and a negative return on equity of 81.74%. The company had revenue of $37.02 million during the quarter, compared to analyst estimates of $38.77 million. On average, equities research analysts forecast that Nerdy Inc. will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Nerdy

Several large investors have recently added to or reduced their stakes in NRDY. Voya Investment Management LLC acquired a new position in Nerdy during the 1st quarter valued at about $30,000. AQR Capital Management LLC lifted its holdings in shares of Nerdy by 67.9% in the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after purchasing an additional 15,234 shares in the last quarter. Strs Ohio bought a new position in shares of Nerdy in the first quarter valued at approximately $56,000. Bank of America Corp DE boosted its position in shares of 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 last quarter. Finally, Jane Street Group LLC grew 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. Institutional investors own 39.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.