Insider Buying: Nerdy (NYSE:NRDY) CEO Acquires $237,990.32 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 181,672 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average price of $1.31 per share, with a total value of $237,990.32. Following the acquisition, the chief executive officer directly owned 31,234,951 shares in the company, valued at approximately $40,917,785.81. The trade was a 0.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nerdy Trading Up 3.1%

Shares of NYSE:NRDY opened at $1.35 on Friday. Nerdy Inc. has a 12 month low of $0.77 and a 12 month high of $2.18. The company has a market capitalization of $252.90 million, a price-to-earnings ratio of -3.86 and a beta of 1.78. The firm’s 50-day moving average is $1.11 and its 200 day moving average is $1.37.

Nerdy (NYSE:NRDY) last announced its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.06. The business had revenue of $37.02 million during the quarter, compared to analyst estimates of $38.77 million. Nerdy had a negative return on equity of 81.74% and a negative net margin of 22.95%. As a group, equities analysts forecast that Nerdy Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NRDY has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research report on Wednesday, October 8th. Cantor Fitzgerald lowered their target price on shares of Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Wall Street Zen raised shares of Nerdy from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $1.25.

Institutional Trading of Nerdy

Several institutional investors and hedge funds have recently made changes to their positions in NRDY. Franklin Resources Inc. grew its holdings in Nerdy by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company’s stock worth $5,950,000 after acquiring an additional 15,674 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Nerdy in the 1st quarter worth approximately $508,000. Moneta Group Investment Advisors LLC lifted its position in shares of Nerdy by 170.7% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after purchasing an additional 150,000 shares during the period. Marshall Wace LLP bought a new position in shares of Nerdy during the second quarter valued at approximately $221,000. Finally, XTX Topco Ltd purchased a new position in Nerdy during the first quarter valued at approximately $188,000. 39.10% of the stock is currently owned by institutional investors.

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.