Charles K. Cohn Purchases 39,629 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 39,629 shares of Nerdy stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of $1.51 per share, with a total value of $59,839.79. Following the transaction, the chief executive officer now owns 550,333 shares in the company, valued at $831,002.83. This represents a 7.76 % 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 Price Performance

Shares of Nerdy stock traded down $0.03 during trading on Tuesday, reaching $1.51. 1,637,567 shares of the stock traded hands, compared to its average volume of 1,681,248. The company has a market capitalization of $271.47 million, a price-to-earnings ratio of -4.38 and a beta of 2.00. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $3.60. The business has a fifty day simple moving average of $1.05 and a two-hundred day simple moving average of $1.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Nerdy by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after buying an additional 88,771 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Nerdy by 28.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after purchasing an additional 58,152 shares during the last quarter. nVerses Capital LLC purchased a new stake in Nerdy in the 2nd quarter worth about $34,000. ACR Alpine Capital Research LLC boosted its position in shares of Nerdy by 4.1% during the second quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock valued at $1,656,000 after buying an additional 39,270 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays reduced their price objective on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Canaccord Genuity Group restated a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Finally, Northland Capmk cut shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company 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.