Key Points
- Nerdy CEO Charles Cohn bought 219,019 shares at an average price of $0.91, a transaction worth about $199,307 and disclosed in an SEC filing.
- The stock rose 6.6% and opened at $0.96, while still trading below its 200-day moving average of $0.98 and near its 52-week range low of $0.75.
- Nerdy recently beat quarterly EPS and revenue expectations, but analysts remain cautious with a consensus rating of “Reduce” and a target price of $1.00.
Nerdy Inc. (NYSE:NRDY - Get Free Report) CEO Charles Cohn purchased 219,019 shares of Nerdy stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $199,307.29. Following the completion of the transaction, the chief executive officer owned 219,019 shares in the company, valued at approximately $199,307.29. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Nerdy Trading Up 6.6%
Nerdy stock opened at $0.96 on Friday. The firm's 50-day moving average is $0.86 and its 200-day moving average is $0.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. Nerdy Inc. has a 1 year low of $0.75 and a 1 year high of $1.78. The company has a market cap of $182.13 million, a P/E ratio of -3.42 and a beta of 1.76.
Nerdy (NYSE:NRDY - Get Free Report) last posted its quarterly earnings results 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. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. The company had revenue of $48.74 million for the quarter, compared to the consensus estimate of $47.33 million. On average, equities analysts expect that Nerdy Inc. will post -0.18 earnings per share for the current year.
Analysts Set New Price Targets
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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $1.00.
Read Our Latest Stock Analysis on Nerdy
Institutional Trading of Nerdy
Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Nerdy in the 4th quarter valued at about $25,000. Engineers Gate Manager LP bought a new stake in Nerdy in the 4th quarter valued at about $28,000. Bridgeway Capital Management LLC lifted its position in Nerdy by 62.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company's stock valued at $276,000 after purchasing an additional 102,400 shares during the last quarter. Abel Hall LLC bought a new stake in Nerdy in the 4th quarter valued at about $67,000. Finally, Symmetry Peak Management LLC bought a new stake in Nerdy in the 4th quarter valued at about $26,000. 39.10% of the stock is currently owned by institutional investors.
Nerdy Company Profile
(
Get Free Report)
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.
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