Nerdy (NYSE:NRDY) CEO Buys $250,007.00 in Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 250,007 shares of Nerdy stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $1.00 per share, with a total value of $250,007.00. Following the completion of the purchase, the chief executive officer owned 978,311 shares in the company, valued at $978,311. The trade was a 34.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Nerdy Stock Down 6.1%

Nerdy stock opened at $0.94 on Tuesday. The stock has a 50 day moving average of $0.87 and a two-hundred day moving average of $0.98. Nerdy Inc. has a twelve month low of $0.75 and a twelve month high of $1.74. The stock has a market capitalization of $177.94 million, a price-to-earnings ratio of -3.34 and a beta of 1.76. 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $47.33 million. As a group, research analysts expect that Nerdy Inc. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Nerdy

Large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Nerdy in the fourth quarter valued at approximately $25,000. Symmetry Peak Management LLC acquired a new stake in Nerdy in the fourth quarter valued at $26,000. Engineers Gate Manager LP acquired a new stake in Nerdy in the fourth quarter valued at $28,000. AQR Capital Management LLC boosted its position 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 purchasing an additional 15,234 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Nerdy during the 1st quarter worth $56,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price 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.