Insider Buying: Nerdy (NYSE:NRDY) CEO Purchases 251,081 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 251,081 shares of the stock in a transaction on Friday, June 12th. The stock was bought at an average price of $1.00 per share, with a total value of $251,081.00. Following the transaction, the chief executive officer directly owned 728,304 shares of the company’s stock, valued at approximately $728,304. The trade was a 52.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Stock Performance

NYSE:NRDY opened at $0.98 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. Nerdy Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $1.74. The firm has a market cap of $185.93 million, a PE ratio of -3.49 and a beta of 1.76. The business has a 50 day moving average price of $0.86 and a 200-day moving average price of $0.98.

Nerdy (NYSE:NRDY) last issued 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. The company had revenue of $48.74 million for the quarter, compared to the consensus estimate of $47.33 million. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. Equities research analysts predict that Nerdy Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $1.00.

Hedge Funds Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently made changes to their positions in NRDY. Geode Capital Management LLC boosted its holdings in Nerdy by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company’s stock valued at $1,620,000 after acquiring an additional 17,325 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Nerdy by 62.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after purchasing an additional 102,400 shares in the last quarter. 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 purchased a new stake in shares of Nerdy in the 2nd quarter worth about $221,000. Finally, Bank of America Corp DE boosted its stake in shares of Nerdy by 236.2% during the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock valued at $201,000 after purchasing an additional 86,791 shares in the last quarter. Institutional investors 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.