In a recent SEC filing, Abigail Blunt, a director at Nerdy Inc. (NYSE:NRDY), reported the purchase of 33,055 shares of the company's Class A Common Stock. The shares were acquired on December 5, 2024, at a weighted average price of $1.47 per share, totaling approximately $48,590. This transaction increases Blunt's total direct ownership to 174,100 shares. The stock, currently trading at $1.64, has shown strong momentum with a 5% gain in the past week. According to InvestingPro analysis, the company maintains impressive gross margins of 69% and appears undervalued based on its Fair Value assessment.
The purchase was executed over multiple transactions, with prices ranging from $1.44 to $1.47 per share. Blunt has committed to providing detailed pricing information to the issuer or any security holder upon request. InvestingPro subscribers can access comprehensive insider trading analysis and 12 additional ProTips for deeper insights into NRDY's performance. Nerdy Inc., headquartered in St. Louis, Missouri, operates in the educational services sector.
In other recent news, education technology company, Nerdy Inc., reported a year-over-year revenue decline of 7%, totaling $37.5 million in its third-quarter earnings report. Despite this, the company has expanded its reach by providing free access to Varsity Tutors for an additional 1.1 million students. Canaccord Genuity adjusted its outlook on Nerdy, reducing the price target but maintaining a Hold rating on the stock. The firm anticipates some of Nerdy's current challenges will continue into the first half of 2025 but foresees an improvement in fundamentals over the next year, laying a solid foundation for growth starting in fiscal year 2026. The company's guidance for the fourth quarter indicates revenues and adjusted EBITDA significantly below market expectations, however, average revenue per member is projected to increase gradually. Nerdy, Inc. is also showing promise in institutional growth, with 32% of paid contracts and 22% of total bookings coming from school districts transitioning from free to paid services. These recent developments emphasize the company's commitment to navigating market challenges and focusing on sustainable growth.
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