Key Points
- Nerdy CEO Charles Cohn bought 250,007 shares at $1.00 each, a purchase worth $250,007 that increased his direct ownership by 34.33% to 978,311 shares.
- NRDY stock fell 8.8% and was trading at $0.85, near its 52-week low of $0.75 and well below its 52-week high of $1.74.
- The company recently beat quarterly EPS and revenue estimates, but analysts remain cautious with a “Reduce” consensus rating and a $1.00 target price.
Nerdy Inc. (NYSE:NRDY - Get Free Report) CEO Charles Cohn purchased 250,007 shares of the firm's stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $1.00 per share, with a total value of $250,007.00. Following the completion of the acquisition, the chief executive officer directly owned 978,311 shares in the company, valued at $978,311. The trade was a 34.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Nerdy Stock Down 8.8%
Shares of NYSE NRDY opened at $0.85 on Wednesday. Nerdy Inc. has a 1 year low of $0.75 and a 1 year high of $1.74. 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 company has a market capitalization of $162.16 million, a price-to-earnings ratio of -3.05 and a beta of 1.76. The business has a 50-day moving average of $0.87 and a two-hundred day moving average of $0.97.
Nerdy (NYSE:NRDY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $47.33 million. On average, analysts forecast that Nerdy Inc. will post -0.18 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, Weiss Ratings reissued 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 issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $1.00.
Read Our Latest Report on NRDY
Institutional Trading of Nerdy
Several institutional investors and hedge funds have recently made changes to their positions in NRDY. Virtu Financial LLC purchased a new stake in shares of Nerdy in the 4th quarter valued at about $25,000. Symmetry Peak Management LLC acquired a new position in Nerdy in the 4th quarter valued at about $26,000. Engineers Gate Manager LP acquired a new position in Nerdy in the 4th quarter valued at about $28,000. AQR Capital Management LLC increased its position in Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company's stock valued at $53,000 after acquiring an additional 15,234 shares during the period. Finally, Strs Ohio acquired a new position in Nerdy in the 1st quarter valued at about $56,000. 39.10% of the stock is owned by hedge funds and other 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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