Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn Purchases 2,000,000 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 2,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the purchase, the chief executive officer now directly owns 30,509,191 shares in the company, valued at approximately $60,713,290.09. The trade was a 7.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Nerdy Stock Down 3.2 %

NRDY opened at $1.84 on Wednesday. The firm has a 50-day moving average price of $1.19 and a 200-day moving average price of $1.30. Nerdy, Inc. has a twelve month low of $0.73 and a twelve month high of $3.60. The company has a market capitalization of $331.90 million, a price-to-earnings ratio of -5.41 and a beta of 2.00.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. JMP Securities restated a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Finally, Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Nerdy has an average rating of “Hold” and a consensus target price of $2.86.

Institutional Trading of Nerdy

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDY. nVerses Capital LLC purchased a new stake in shares of Nerdy in the second quarter worth $34,000. SG Americas Securities LLC bought a new position in shares of Nerdy in the 3rd quarter worth $29,000. AM Investment Strategies LLC purchased a new stake in shares of Nerdy during the 3rd quarter valued at $29,000. Rhumbline Advisers lifted its holdings in shares of Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares during the last quarter. Finally, Barclays PLC grew its position in Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after acquiring an additional 79,808 shares in the last quarter. Institutional investors own 39.10% 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.