Nerdy, Inc. (NYSE:NRDY) CEO Acquires $3,980,000.00 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 2,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $1.99 per share, with a total value of $3,980,000.00. Following the completion of the purchase, the chief executive officer now owns 30,509,191 shares in the company, valued at $60,713,290.09. The trade was a 7.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Trading Up 5.3 %

Shares of NYSE:NRDY traded up $0.10 on Tuesday, hitting $2.00. The company had a trading volume of 685,746 shares, compared to its average volume of 1,778,363. The stock has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.30. The stock has a market cap of $360.76 million, a price-to-earnings ratio of -5.62 and a beta of 2.00. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $3.60.

Analysts Set New Price Targets

Several research firms have commented on NRDY. Needham & Company LLC restated a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research note on Friday, November 8th. Northland Securities decreased their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company 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 report on Monday, November 11th. JMP Securities restated a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research note 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’s stock. According to MarketBeat.com, Nerdy presently has an average rating of “Hold” and a consensus price target of $2.86.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Nerdy in the 3rd quarter valued at $29,000. AM Investment Strategies LLC acquired a new stake in shares of Nerdy in the 3rd quarter valued at approximately $29,000. nVerses Capital LLC acquired a new stake in shares of Nerdy during the 2nd quarter valued at $34,000. Barclays PLC grew its position in Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after acquiring an additional 79,808 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in Nerdy in the 3rd quarter worth about $138,000. 39.10% of the stock is owned by institutional investors.

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.