Charles Cohn Acquires 250,007 Shares of Nerdy (NYSE:NRDY) Stock

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn purchased 250,007 shares of Nerdy stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $1.00 per share, for a total transaction of $250,007.00. Following the purchase, the chief executive officer directly owned 978,311 shares in the company, valued at $978,311. This trade represents 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 the SEC website.

Nerdy Trading Up 6.8%

NRDY stock opened at $0.90 on Thursday. The company has a market capitalization of $170.53 million, a PE ratio of -3.20 and a beta of 1.76. Nerdy Inc. has a 12 month low of $0.75 and a 12 month high of $1.74. The firm’s 50-day moving average is $0.87 and its 200 day moving average is $0.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.41 and a quick ratio of 2.41.

Nerdy (NYSE:NRDY) last posted its quarterly 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%. On average, research analysts anticipate that Nerdy Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in Nerdy during the 2nd quarter valued at about $221,000. Bank of America Corp DE increased its position in 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 during the period. Jane Street Group LLC increased its position in Nerdy by 27.0% during the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock valued at $136,000 after purchasing an additional 17,768 shares during the period. Wells Fargo & Company MN increased its position in Nerdy by 80.5% during the 4th quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock valued at $68,000 after purchasing an additional 29,007 shares during the period. Finally, Abel Hall LLC purchased a new position in Nerdy during the 4th quarter valued at about $67,000. Hedge funds and other 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.