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

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

Nerdy Stock Performance

Nerdy stock opened at $1.80 on Thursday. Nerdy, Inc. has a 12-month low of $1.47 and a 12-month high of $5.37. The company has a 50-day moving average price of $2.17 and a 200 day moving average price of $2.76.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. Nerdy had a negative net margin of 14.49% and a negative return on equity of 41.24%. The firm had revenue of $53.73 million during the quarter, compared to analysts’ expectations of $52.20 million. During the same period last year, the business earned ($0.12) earnings per share. Nerdy’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that Nerdy, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nerdy

A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased 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 valued at $52,000 after acquiring an additional 14,244 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Nerdy during the fourth quarter valued at about $50,000. PEAK6 Investments LLC acquired a new stake in shares of Nerdy during the third quarter valued at about $56,000. Aigen Investment Management LP acquired a new stake in shares of Nerdy during the third quarter valued at about $59,000. Finally, S Squared Technology LLC acquired a new stake in shares of Nerdy during the third quarter valued at about $111,000. 39.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NRDY shares. JPMorgan Chase & Co. started coverage on shares of Nerdy in a research report on Monday, March 11th. They issued an “overweight” rating and a $5.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 target price on shares of Nerdy in a research report on Friday, May 17th. Finally, The Goldman Sachs Group increased their target price on shares of Nerdy from $3.25 to $3.75 and gave the company a “neutral” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.82.

About Nerdy

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.