Insider Buying: Nerdy (NYSE:NRDY) CEO Purchases 180,353 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 180,353 shares of Nerdy stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $1.38 per share, with a total value 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. This represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Nerdy Stock Performance

NYSE NRDY opened at $1.28 on Tuesday. The business’s fifty day moving average is $1.12 and its 200 day moving average is $1.35. Nerdy Inc. has a fifty-two week low of $0.77 and a fifty-two week high of $2.18. The company has a market capitalization of $238.85 million, a PE ratio of -3.64 and a beta of 1.78.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.06. Nerdy had a negative return on equity of 81.74% and a negative net margin of 22.95%.The business had revenue of $37.02 million during the quarter, compared to analysts’ expectations of $38.77 million. On average, sell-side analysts forecast that Nerdy Inc. will post -0.43 EPS for the current year.

Institutional Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC purchased a new position in Nerdy during the 1st quarter valued at approximately $30,000. AQR Capital Management LLC raised 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 acquiring an additional 15,234 shares in the last quarter. Strs Ohio bought a new position in shares of Nerdy during the 1st quarter valued at approximately $56,000. Bank of America Corp DE boosted 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 valued at $98,000 after acquiring an additional 17,889 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Nerdy by 27.0% in the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after purchasing an additional 17,768 shares in the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Nerdy from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Cantor Fitzgerald dropped their price objective on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average 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.