Charles Cohn Buys 251,081 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 251,081 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $1.00 per share, for a total transaction of $251,081.00. Following the completion of the purchase, the chief executive officer directly owned 728,304 shares in the company, valued at $728,304. This represents a 52.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Nerdy Trading Down 8.8%

Shares of Nerdy stock opened at $0.85 on Wednesday. The firm has a market capitalization of $162.16 million, a PE ratio of -3.05 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 firm’s 50-day moving average price is $0.87 and its 200 day moving average price is $0.97. The company has a current ratio of 2.41, a quick 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) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. The business had revenue of $48.74 million for the quarter, compared to analyst estimates of $47.33 million. On average, sell-side analysts predict that Nerdy Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a research note 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 an average price target of $1.00.

Institutional Trading of Nerdy

A number of hedge funds and other institutional investors have recently made changes to their positions in NRDY. Bank of America Corp DE increased its holdings 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 worth $98,000 after buying an additional 17,889 shares during the last quarter. AQR Capital Management LLC increased 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 buying an additional 15,234 shares during the last quarter. Strs Ohio acquired a new stake in shares of Nerdy during the 1st quarter worth approximately $56,000. Marshall Wace LLP acquired a new stake in shares of Nerdy during the 2nd quarter worth approximately $221,000. Finally, Jane Street Group LLC increased its holdings in shares of Nerdy by 27.0% during the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after buying an additional 17,768 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.