Nerdy (NYSE:NRDY) CEO Acquires $249,606.00 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 198,100 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was purchased at an average price of $1.26 per share, with a total value of $249,606.00. Following the transaction, the chief executive officer owned 1,278,512 shares in the company, valued at approximately $1,610,925.12. This represents a 18.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nerdy Price Performance

Nerdy stock opened at $1.32 on Friday. Nerdy Inc. has a 12 month low of $0.77 and a 12 month high of $2.18. The company has a fifty day moving average price of $1.11 and a two-hundred day moving average price of $1.37. The company has a market cap of $247.28 million, a PE ratio of -3.77 and a beta of 1.78.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $38.77 million. Equities research analysts anticipate that Nerdy Inc. will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

NRDY has been the subject of a number of research reports. Wall Street Zen upgraded Nerdy from a “sell” rating to a “hold” rating in a research note 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 research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nerdy has a consensus 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 NRDY. Franklin Resources Inc. boosted its position in shares of Nerdy by 0.4% during the second quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock worth $5,950,000 after buying an additional 15,674 shares during the period. Nuveen LLC bought a new stake in Nerdy during the 1st quarter valued at $508,000. Moneta Group Investment Advisors LLC raised its stake in Nerdy by 170.7% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after acquiring an additional 150,000 shares in the last quarter. Marshall Wace LLP acquired a new position in Nerdy during the 2nd quarter worth $221,000. Finally, XTX Topco Ltd bought a new position in shares of Nerdy in the first quarter worth $188,000. 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.