Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn Buys 426,758 Shares

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 426,758 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $1.54 per share, for a total transaction of $657,207.32. Following the completion of the purchase, the chief executive officer now owns 25,509,191 shares of the company’s stock, valued at approximately $39,284,154.14. This trade represents a 1.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nerdy Price Performance

Shares of NRDY stock traded up $0.04 during trading hours on Monday, reaching $1.65. The company had a trading volume of 3,843,265 shares, compared to its average volume of 1,703,573. The company has a market cap of $297.63 million, a price-to-earnings ratio of -5.12 and a beta of 1.99. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60. The business has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.30.

Hedge Funds Weigh In On Nerdy

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of Nerdy by 11.6% in the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after purchasing an additional 8,834 shares during the last quarter. State Street Corp boosted its holdings in shares of Nerdy by 0.9% in the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after buying an additional 11,721 shares during the last quarter. nVerses Capital LLC bought a new position in Nerdy during the second quarter valued at about $34,000. SG Americas Securities LLC purchased a new stake in Nerdy during the third quarter worth about $29,000. Finally, AM Investment Strategies LLC bought a new stake in Nerdy in the third quarter worth about $29,000. 39.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NRDY. Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Northland Securities reduced their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nerdy currently has a consensus rating of “Hold” and an average price target of $2.86.

About Nerdy

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.