Key Points
- Nerdy CEO Charles Cohn bought 258,204 shares on June 11 for about $250,457.88 at an average price of $0.97 per share. After the purchase, his direct holdings rose to 477,223 shares, a 117.89% increase.
- Nerdy stock recently traded around $0.98, near its 200-day moving average and well below its 12-month high of $1.74. The company has a market cap of about $185.93 million and a beta of 1.76.
- The company’s latest earnings beat expectations, posting -$0.03 EPS versus the expected -$0.05, with revenue of $48.74 million versus estimates of $47.33 million. However, analyst sentiment remains cautious, with an average rating of “Reduce” and a consensus target price of $1.00.
Nerdy Inc. (NYSE:NRDY - Get Free Report) CEO Charles Cohn purchased 258,204 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $0.97 per share, for a total transaction of $250,457.88. Following the completion of the purchase, the chief executive officer directly owned 477,223 shares of the company's stock, valued at approximately $462,906.31. This represents a 117.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Nerdy Stock Performance
Shares of NRDY stock opened at $0.98 on Friday. The business's 50-day moving average price is $0.86 and its 200-day moving average price is $0.98. Nerdy Inc. has a 12 month low of $0.75 and a 12 month high of $1.74. The firm has a market capitalization of $185.93 million, a price-to-earnings ratio of -3.49 and a beta of 1.76. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.67.
Nerdy (NYSE:NRDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) EPS 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 firm had revenue of $48.74 million for the quarter, compared to analyst estimates of $47.33 million. Equities research analysts forecast that Nerdy Inc. will post -0.18 EPS for the current year.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nerdy in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $1.00.
Check Out Our Latest Research Report on NRDY
Hedge Funds Weigh In On Nerdy
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Nerdy by 67.9% in the first quarter. AQR Capital Management LLC now owns 37,660 shares of the company's stock worth $53,000 after acquiring an additional 15,234 shares during the period. Geode Capital Management LLC lifted its stake in shares of Nerdy by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,557,017 shares of the company's stock worth $1,620,000 after acquiring an additional 17,325 shares during the period. Jane Street Group LLC lifted its stake in shares of Nerdy by 27.0% in the second quarter. Jane Street Group LLC now owns 83,470 shares of the company's stock worth $136,000 after acquiring an additional 17,768 shares during the period. Bank of America Corp DE lifted its stake in shares of Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company's stock worth $98,000 after acquiring an additional 17,889 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Nerdy in the fourth quarter worth approximately $25,000. 39.10% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
