Charles K. Cohn Purchases 2,170,291 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 2,170,291 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $1.03 per share, with a total value of $2,235,399.73. Following the completion of the acquisition, the chief executive officer now owns 13,025,870 shares of the company’s stock, valued at approximately $13,416,646.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nerdy Stock Performance

NYSE NRDY opened at $1.03 on Friday. The firm has a 50-day moving average of $1.53 and a 200-day moving average of $2.23. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $5.13.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.04. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. The firm had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. During the same period last year, the business posted ($0.07) earnings per share. As a group, sell-side analysts expect that Nerdy, Inc. will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently modified their holdings of NRDY. nVerses Capital LLC acquired a new position in shares of Nerdy in the second quarter valued at about $34,000. Tower Research Capital LLC TRC boosted its holdings in Nerdy by 1,765.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock valued at $52,000 after purchasing an additional 14,244 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Nerdy during the 1st quarter worth approximately $101,000. Certuity LLC acquired a new stake in Nerdy during the fourth quarter worth approximately $120,000. Finally, Rhumbline Advisers grew its holdings in shares of Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after purchasing an additional 8,834 shares in the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NRDY shares. Barclays reduced their target price on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. The Goldman Sachs Group lifted their target price on Nerdy from $3.25 to $3.75 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC dropped their price target on shares of Nerdy from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.58.

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.