Charles Cohn Buys 174,076 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 174,076 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $236,743.36. Following the acquisition, the chief executive officer directly owned 32,669,932 shares of the company’s stock, valued at approximately $44,431,107.52. This represents a 0.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nerdy Trading Up 3.1%

NYSE:NRDY opened at $1.18 on Friday. The company has a market cap of $220.11 million, a P/E ratio of -3.36 and a beta of 1.78. Nerdy Inc. has a twelve month low of $0.77 and a twelve month high of $2.02. The company’s 50-day moving average price is $1.11 and its 200-day moving average price is $1.35.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) 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 analysts’ expectations of $38.77 million. On average, analysts expect that Nerdy Inc. will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NRDY. Voya Investment Management LLC acquired a new stake in Nerdy during the first quarter worth $30,000. AQR Capital Management LLC grew its holdings in shares of 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 during the period. Strs Ohio acquired a new stake in shares of Nerdy during the 1st quarter worth about $56,000. Bank of America Corp DE increased its position in shares of Nerdy by 41.9% during the 4th quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after purchasing an additional 17,889 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in Nerdy by 27.0% in the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after buying an additional 17,768 shares during the period. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.