Charles Cohn Purchases 258,204 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 258,204 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $0.97 per share, for a total transaction of $250,457.88. Following the transaction, the chief executive officer directly owned 477,223 shares of the company’s stock, valued at approximately $462,906.31. The trade was a 117.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nerdy Stock Up 2.0%

Shares of NYSE:NRDY opened at $0.98 on Friday. The company has a market capitalization of $185.93 million, a price-to-earnings ratio of -3.49 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.41 and a quick ratio of 2.41. The business’s 50-day moving average is $0.86 and its 200-day moving average is $0.98. Nerdy Inc. has a 1 year low of $0.75 and a 1 year high of $1.74.

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 during the quarter, compared to analysts’ expectations of $47.33 million. Equities research analysts predict that Nerdy Inc. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Nerdy

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Nerdy during the fourth quarter valued at about $25,000. Symmetry Peak Management LLC acquired a new position in shares of Nerdy during the fourth quarter valued at about $26,000. Engineers Gate Manager LP acquired a new position in shares of Nerdy during the fourth quarter valued at about $28,000. AQR Capital Management LLC raised 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 during the period. Finally, Strs Ohio acquired a new position in shares of Nerdy during the first quarter valued at about $56,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Nerdy 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.