Insider Buying: Nerdy (NYSE:NRDY) CEO Purchases $250,457.88 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 258,204 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $0.97 per share, for a total transaction of $250,457.88. Following the transaction, the chief executive officer owned 477,223 shares of the company’s stock, valued at $462,906.31. The trade was a 117.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Nerdy Stock Down 1.9%

Shares of NYSE:NRDY opened at $0.98 on Monday. The stock has a market cap of $185.93 million, a price-to-earnings ratio of -3.49 and a beta of 1.76. 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 Inc. has a 12-month low of $0.75 and a 12-month high of $1.74. The business’s 50 day moving average is $0.86 and its 200 day moving average is $0.98.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Nerdy in the fourth quarter worth $25,000. Engineers Gate Manager LP purchased a new position in Nerdy in the fourth quarter worth $28,000. Bridgeway Capital Management LLC boosted its position in Nerdy by 62.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after purchasing an additional 102,400 shares during the last quarter. Abel Hall LLC purchased a new position in Nerdy in the fourth quarter worth $67,000. Finally, Symmetry Peak Management LLC purchased a new position in Nerdy in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

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 equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $1.00.

About Nerdy

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.