Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn Acquires 746,335 Shares

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 746,335 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $1.23 per share, with a total value of $917,992.05. Following the completion of the transaction, the chief executive officer now owns 24,223,884 shares of the company’s stock, valued at approximately $29,795,377.32. This trade represents a 3.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Nerdy Trading Up 6.1 %

NRDY opened at $1.40 on Friday. The company has a market cap of $252.53 million, a price-to-earnings ratio of -4.12 and a beta of 1.68. The stock has a fifty day simple moving average of $0.99 and a two-hundred day simple moving average of $1.35. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $3.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in Nerdy during the second quarter worth about $34,000. SG Americas Securities LLC bought a new stake in shares of Nerdy in the 3rd quarter worth approximately $29,000. AM Investment Strategies LLC purchased a new stake in shares of Nerdy in the 3rd quarter worth approximately $29,000. Bayesian Capital Management LP bought a new position in Nerdy during the 1st quarter valued at approximately $101,000. Finally, Rhumbline Advisers raised its stake in Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after buying an additional 8,834 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $2.00 target price on shares of Nerdy in a report on Friday, November 8th. Barclays dropped their price objective on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Raymond James lowered shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $1.00 price target (down previously from $6.00) on shares of Nerdy in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Nerdy presently has an average rating of “Hold” and a consensus price target of $2.86.

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.