Nerdy, Inc. (NYSE:NRDY) CEO Acquires $432,000.00 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 300,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $1.44 per share, for a total transaction of $432,000.00. Following the completion of the acquisition, the chief executive officer now owns 25,082,433 shares in the company, valued at approximately $36,118,703.52. This trade represents a 1.21 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nerdy Price Performance

Shares of NRDY stock traded down $0.09 on Wednesday, hitting $1.38. 1,157,137 shares of the stock traded hands, compared to its average volume of 1,670,422. The company has a market capitalization of $248.92 million, a PE ratio of -4.06 and a beta of 1.68. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $3.60. The company’s fifty day moving average is $1.01 and its 200 day moving average is $1.33.

Wall Street Analyst Weigh In

Several brokerages recently commented on NRDY. Canaccord Genuity Group downgraded Nerdy from a “buy” rating to a “hold” rating and dropped their target price for the company from $5.00 to $3.00 in a report on Friday, August 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 target price (down from $6.00) 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 on the stock in a report on Friday, August 9th. Raymond James downgraded Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, JMP Securities restated a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.86.

Institutional Investors Weigh In On Nerdy

Several institutional investors and hedge funds have recently made changes to their positions in NRDY. nVerses Capital LLC bought a new position in Nerdy during the 2nd quarter worth $34,000. SG Americas Securities LLC bought a new position in Nerdy during the 3rd quarter worth $29,000. AM Investment Strategies LLC bought a new position in Nerdy during the 3rd quarter worth $29,000. Bayesian Capital Management LP bought a new position in Nerdy during the 1st quarter worth $101,000. Finally, Rhumbline Advisers grew its stake in Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after buying an additional 8,834 shares during the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

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.