Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Purchases 347,275 Shares of Stock

Nerdy, Inc. (NYSE:NRDYGet Free Report) CEO Charles K. Cohn bought 347,275 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $1.93 per share, with a total value of $670,240.75. Following the transaction, the chief executive officer now directly owns 2,117,526 shares in the company, valued at $4,086,825.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nerdy Stock Performance

Shares of NRDY opened at $1.73 on Friday. The stock has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $2.75. Nerdy, Inc. has a 52-week low of $1.47 and a 52-week high of $5.37. The company has a market cap of $303.96 million, a price-to-earnings ratio of -6.18 and a beta of 1.74.

Nerdy (NYSE:NRDYGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Nerdy had a negative return on equity of 41.24% and a negative net margin of 14.49%. The firm had revenue of $53.73 million during the quarter, compared to the consensus estimate of $52.20 million. During the same quarter in the previous year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, research analysts predict that Nerdy, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NRDY has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of Nerdy in a research report on Friday, May 17th. JPMorgan Chase & Co. initiated coverage on Nerdy in a research report on Monday, March 11th. They set an “overweight” rating and a $5.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on Nerdy from $3.25 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nerdy currently has a consensus rating of “Moderate Buy” and an average price target of $4.82.

Check Out Our Latest Stock Report on Nerdy

Institutional Investors Weigh In On Nerdy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after acquiring an additional 14,244 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Nerdy during the fourth quarter worth $50,000. PEAK6 Investments LLC bought a new stake in shares of Nerdy during the third quarter worth $56,000. Aigen Investment Management LP bought a new stake in shares of Nerdy during the third quarter worth $59,000. Finally, S Squared Technology LLC bought a new stake in shares of Nerdy during the third quarter worth $111,000. Institutional investors own 39.10% of the company’s stock.

Nerdy Company Profile

(Get Free Report)

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.

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