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

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn bought 258,204 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $0.97 per share, with a total value of $250,457.88. Following the completion of the transaction, the chief executive officer directly owned 477,223 shares of the company’s stock, valued at $462,906.31. This represents a 117.89% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Nerdy Trading Up 6.6%

NYSE NRDY opened at $0.96 on Friday. The stock’s 50-day simple moving average is $0.86 and its two-hundred day simple moving average is $0.98. Nerdy Inc. has a twelve month low of $0.75 and a twelve month high of $1.78. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $182.13 million, a price-to-earnings ratio of -3.42 and a beta of 1.76.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $48.74 million during the quarter, compared to analysts’ expectations of $47.33 million. Nerdy had a negative return on equity of 93.27% and a negative net margin of 18.60%. Research analysts forecast that Nerdy Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Nerdy

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Nerdy during the fourth quarter valued at about $25,000. Engineers Gate Manager LP purchased a new stake in Nerdy during the 4th quarter valued at about $28,000. Bridgeway Capital Management LLC grew its position in Nerdy by 62.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after acquiring an additional 102,400 shares during the last quarter. Abel Hall LLC bought a new position in Nerdy during the 4th quarter worth approximately $67,000. Finally, Symmetry Peak Management LLC purchased a new position in Nerdy in the 4th quarter worth approximately $26,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

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.