Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Acquires 67,991 Shares of Stock

Nerdy, Inc. (NYSE:NRDY - Get Free Report) CEO Charles K. Cohn acquired 67,991 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average cost of $2.88 per share, for a total transaction of $195,814.08. Following the completion of the transaction, the chief executive officer now directly owns 10,855,579 shares of the company's stock, valued at approximately $31,264,067.52. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Nerdy Stock Performance

Shares of NRDY stock traded up $0.13 during mid-day trading on Wednesday, reaching $2.87. The company's stock had a trading volume of 470,037 shares, compared to its average volume of 1,025,971. Nerdy, Inc. has a 1-year low of $2.31 and a 1-year high of $5.37. The company has a market cap of $498.55 million, a P/E ratio of -6.79 and a beta of 1.91. The firm's 50-day moving average is $3.11 and its two-hundred day moving average is $3.27.

Nerdy (NYSE:NRDY - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The business had revenue of $55.10 million for the quarter, compared to analyst estimates of $54.77 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm's quarterly revenue was up 31.8% compared to the same quarter last year. Sell-side analysts anticipate that Nerdy, Inc. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Nerdy in a research report on Monday. They issued an "overweight" rating and a $5.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $4.00 price objective on shares of Nerdy in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $4.71.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Citigroup Inc. acquired a new stake in shares of Nerdy in the 1st quarter valued at approximately $55,000. BlackRock Inc. raised its position in shares of Nerdy by 3.6% in the 1st quarter. BlackRock Inc. now owns 280,159 shares of the company's stock valued at $1,426,000 after acquiring an additional 9,796 shares during the period. Vanguard Group Inc. raised its position in shares of Nerdy by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 2,344,570 shares of the company's stock valued at $11,934,000 after acquiring an additional 76,776 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Nerdy in the 1st quarter valued at approximately $1,332,000. Finally, Renaissance Technologies LLC raised its position in shares of Nerdy by 241.3% in the 1st quarter. Renaissance Technologies LLC now owns 106,500 shares of the company's stock valued at $542,000 after acquiring an additional 75,300 shares during the period. Institutional investors own 38.42% of the company's stock.

Nerdy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.