Nerdy (NYSE:NRDY) CEO Charles Cohn Acquires 258,204 Shares

Nerdy Inc. (NYSE:NRDY) CEO Charles Cohn acquired 258,204 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $0.97 per share, for a total transaction of $250,457.88. Following the transaction, the chief executive officer directly owned 477,223 shares in the company, valued at approximately $462,906.31. This trade represents a 117.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Nerdy Stock Up 2.0%

NRDY stock opened at $0.98 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $185.93 million, a price-to-earnings ratio of -3.49 and a beta of 1.76. The business’s fifty day moving average price is $0.86 and its two-hundred day moving average price is $0.98. Nerdy Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $1.74.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $48.74 million for 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%. On average, equities analysts anticipate that Nerdy Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Nerdy

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Nerdy by 67.9% in the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company’s stock valued at $53,000 after buying an additional 15,234 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 17,325 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Nerdy by 27.0% during the second 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of Nerdy by 41.9% during the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock valued at $98,000 after purchasing an additional 17,889 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Nerdy during the fourth quarter valued at about $25,000. 39.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Nerdy Company Profile

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.