Nerdy, Inc. (NYSE:NRDY) CEO Buys $917,992.05 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 746,335 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $1.23 per share, for a total transaction of $917,992.05. Following the completion of the purchase, the chief executive officer now directly owns 24,223,884 shares of the company’s stock, valued at approximately $29,795,377.32. The trade was a 3.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nerdy Price Performance

Shares of NRDY opened at $1.40 on Monday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60. The firm has a 50-day moving average of $0.99 and a 200-day moving average of $1.34. The company has a market cap of $252.53 million, a PE ratio of -4.12 and a beta of 1.68.

Analysts Set New Price Targets

NRDY has been the topic of a number of research analyst reports. Canaccord Genuity Group restated 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. Northland Securities decreased their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Barclays cut their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a report 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. Finally, JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Nerdy has a consensus rating of “Hold” and an average target price of $2.86.

Institutional Trading of Nerdy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Nerdy by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after purchasing an additional 88,771 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Nerdy during the first quarter worth $101,000. Bank of New York Mellon Corp grew its position 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 worth $437,000 after acquiring an additional 58,152 shares during the last quarter. nVerses Capital LLC bought a new position in Nerdy in the 2nd quarter valued at approximately $34,000. Finally, ACR Alpine Capital Research LLC grew its stake in shares of Nerdy by 4.1% in the second quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock worth $1,656,000 after purchasing an additional 39,270 shares during the last quarter. Institutional investors own 39.10% of the company’s stock.

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.