Nerdy (NYSE:NRDY) CEO Acquires $106,534.56 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 80,708 shares of Nerdy stock in a transaction on Friday, November 28th. The shares were purchased at an average cost of $1.32 per share, for a total transaction of $106,534.56. Following the acquisition, the chief executive officer owned 891,412 shares in the company, valued at $1,176,663.84. The trade was a 9.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Nerdy Trading Up 3.1%

Shares of NYSE NRDY opened at $1.35 on Friday. The company has a market capitalization of $252.90 million, a price-to-earnings ratio of -3.86 and a beta of 1.78. Nerdy Inc. has a twelve month low of $0.77 and a twelve month high of $2.18. The business has a 50 day simple moving average of $1.11 and a 200-day simple moving average of $1.37.

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, topping the consensus estimate of ($0.16) by $0.06. The firm had revenue of $37.02 million for the quarter, compared to analysts’ expectations of $38.77 million. Nerdy had a negative return on equity of 81.74% and a negative net margin of 22.95%. As a group, equities analysts predict that Nerdy Inc. will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald lowered their target price on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $1.25.

Institutional Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC purchased a new position in Nerdy during the 1st quarter worth approximately $30,000. AQR Capital Management LLC boosted its position 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 worth $53,000 after buying an additional 15,234 shares during the period. Strs Ohio purchased a new position in shares of Nerdy during the first quarter valued at $56,000. Bank of America Corp DE grew its holdings 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 in the last quarter. Finally, Jane Street Group LLC raised its position in Nerdy by 27.0% during the second 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. Institutional investors own 39.10% of the company’s stock.

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.