Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Buys 300,000 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 300,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased 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 of the company’s stock, valued at approximately $36,118,703.52. This represents a 1.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Nerdy Price Performance

Shares of NRDY opened at $1.38 on Friday. The firm has a 50-day moving average of $1.02 and a 200-day moving average of $1.33. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60.

Hedge Funds Weigh In On Nerdy

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDY. Vanguard Group Inc. raised its stake in Nerdy by 2.9% in the first quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after buying an additional 88,771 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Nerdy during the 1st quarter worth approximately $101,000. Bank of New York Mellon Corp raised its stake in Nerdy by 28.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after acquiring an additional 58,152 shares during the period. nVerses Capital LLC acquired a new stake in Nerdy during the 2nd quarter valued at $34,000. Finally, ACR Alpine Capital Research LLC boosted its position in Nerdy by 4.1% during 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 period. Institutional investors own 39.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NRDY. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Canaccord Genuity Group reissued a “hold” rating and issued a $3.00 price objective (down previously from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research note on Friday, November 8th. Finally, Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and cut their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.