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

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 250,007 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was purchased 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 directly owned 978,311 shares of the company’s stock, valued at approximately $978,311. This represents a 34.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nerdy Trading Down 8.8%

Shares of NYSE NRDY opened at $0.85 on Wednesday. Nerdy Inc. has a twelve month low of $0.75 and a twelve month high of $1.74. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $0.87 and a 200-day simple moving average of $0.97. The stock has a market capitalization of $162.16 million, a PE ratio of -3.05 and a beta of 1.76.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share 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 during the quarter, compared to analysts’ expectations of $47.33 million. On average, equities analysts forecast that Nerdy Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a report on Tuesday, April 21st. One equities research 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 currently has a consensus rating of “Reduce” and a consensus target price of $1.00.

Institutional Trading of Nerdy

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Nerdy by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company’s stock worth $1,620,000 after buying an additional 17,325 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings 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 buying an additional 102,400 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Nerdy by 170.7% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after buying an additional 150,000 shares during the last quarter. Marshall Wace LLP purchased a new stake in Nerdy during the 2nd quarter worth about $221,000. Finally, Bank of America Corp DE lifted its holdings in Nerdy by 236.2% during the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after buying an additional 86,791 shares during the last quarter. 39.10% of the stock is 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.