Insider Buying: Nerdy (NYSE:NRDY) CEO Buys $199,307.29 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 219,019 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $0.91 per share, for a total transaction of $199,307.29. Following the purchase, the chief executive officer directly owned 219,019 shares in the company, valued at $199,307.29. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Nerdy Stock Up 2.0%

NRDY stock opened at $0.98 on Friday. The business has a 50 day moving average of $0.86 and a 200 day moving average of $0.98. The firm has a market cap of $185.93 million, a PE ratio of -3.49 and a beta of 1.76. Nerdy Inc. has a twelve month low of $0.75 and a twelve month high of $1.74. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.67.

Nerdy (NYSE:NRDY) last released its earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Nerdy had a negative return on equity of 93.27% and a negative net margin of 18.60%.The business had revenue of $48.74 million for the quarter, compared to the consensus estimate of $47.33 million. On average, research analysts forecast that Nerdy Inc. will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Nerdy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRDY. Virtu Financial LLC purchased a new stake in Nerdy during the 4th quarter valued at $25,000. Symmetry Peak Management LLC purchased a new position in shares of Nerdy in the fourth quarter worth $26,000. Engineers Gate Manager LP purchased a new position in shares of Nerdy in the fourth quarter worth $28,000. AQR Capital Management LLC lifted its holdings in shares of Nerdy by 67.9% during 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. Finally, Strs Ohio purchased a new stake in shares of Nerdy during the first quarter valued at $56,000. 39.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Nerdy currently has a consensus rating of “Reduce” and a consensus target price of $1.00.

Nerdy Company Profile

Nerdy, Inc (NYSE:NRDY) is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.