Nerdy, Inc. (NYSE:NRDY) CEO Purchases $7,504,385.40 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 8,338,206 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the purchase, the chief executive officer now directly owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. The trade was a 66.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nerdy Stock Performance

NRDY stock traded up $0.02 during mid-day trading on Thursday, hitting $0.84. The company had a trading volume of 1,541,503 shares, compared to its average volume of 1,611,845. The firm has a market cap of $149.65 million, a PE ratio of -2.68 and a beta of 1.68. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60. The stock’s fifty day moving average price is $0.96 and its two-hundred day moving average price is $1.42.

Institutional Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in NRDY. SG Americas Securities LLC bought a new position in Nerdy in the 3rd quarter worth $29,000. AM Investment Strategies LLC bought a new position in Nerdy in the 3rd quarter worth $29,000. nVerses Capital LLC bought a new position in Nerdy in the 2nd quarter worth $34,000. Bayesian Capital Management LP bought a new position in Nerdy in the 1st quarter worth $101,000. Finally, Citizens Financial Group Inc. RI bought a new position in Nerdy in the 3rd quarter worth $138,000. 39.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NRDY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday. Northland Securities reduced their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Friday, November 8th. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 price target (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from 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.